The National Budget LO 3.4

The National Budget is a plan of ______ government income and ________

Which of the following are Government Revenue

• Current Income

• Capital Income

• Current Expenditure

• Current Income

Tick all types of Current Income

• Income Tax

• Corporation Tax

• VAT

• Customs Duty

Which of the following are Government Expenditure

• Current Income

• Current Expenditure

• Capital Expenditure

• Capital Income

Who is responsible for preparing the National Budget?

• Department of Current Affairs

• Department of Health

• Department of Finance

• Department of Education

Why would Employees be interested in watching the Budget?

What is meant by budget deficit?

• More expenditure than income

• More income than expenditure

What is meant by a budget surplus

• More income than expenditure

• More expenditure than income

In your own words what is meant by Income?

In your own words what is meant by expenditure?