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  3. governments at all levels must submit budgets; mos

Governments at all levels must submit budgets; most are required to submit balanced budgets where...

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Accounting

Governments at all levels must submit budgets; most are required to submit balanced budgets where revenues cover anticipated expenses. But, estimating government revenues can be as difficult or even more difficult than estimating company revenue.

Why is it important that government budgets accurately estimate future revenues during economic downturns?

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