Which of the following is not a category under the functional classification of public expenditure?

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ACapital expenditure

BRecurring expenditure

CDevelopment expenditure

DNon-development expenditure

Answer:

Functional classification categorizes expenditure based on the purpose for which it is incurred (e.g., defense, health, education, etc.). Recurring expenditure is a characteristic, not a function.

Related Questions:

Which of the following statement is CORRECT about the Law of Demand with regard to subject of Economics?

a) The law of demand is a fundamental principle of economics that states that at a higher price consumer will demand a lower quantity of a good.
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c) The shape and magnitude of demand shifts in response to changes in price.