The Federal budget is a statement of receipts and outlays for a year.

Name: The Federal budget is a statement of receipts and outlays for a year.
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The Federal budget is indeed a statement of receipts (revenues collected through taxes and other sources) and outlays (expenditures on various programs and services) for a fiscal year (October 1 to September 30). This budget is prepared and submitted by the President of the United States to Congress for approval.

The Federal Budget Is a Statement of Receipts and Outlays