Give reason of Explain the statement 2. Revenue receipts and Revenue expenditure is known as Revenue Budget.

Give reason of Explain the statement
2. Revenue receipts and Revenue expenditure is known as Revenue Budget.

Answer: 

2. Revenue budget consists of items which neither lead to a change in the assets nor changes the liabilities of the government. In other words, it consists of the revenue receipts and revenue expenditure, as they do not change either the liabilities or the assets of the government.

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