5 Questions
According to the Fiscal Management and Accountability Act of 2003, the budget includes estimates of the revenues from all sources during the fiscal year.
True
The budget serves only one function according to the text.
False
The budget period should be long enough to show the effects of policies and short enough for the estimates to be made with reasonable accuracy.
True
The budget period starts on April 1st and ends on March 31st each year in Guyana.
False
In the case of a projected deficit, the budget must include the sources and amounts of financing required to fund that deficit.
True
Test your knowledge of the accounting system of the central government and the budget cycle with this quiz. Explore the key concepts outlined in the Fiscal Management and Accountability Act of 2003 and enhance your understanding of governmental financial planning and management.
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