A. Every government project must be completed within one year
B. Legislative authorisation of expenditure is generally granted for a specified financial year
C. Taxes can only be imposed annually
D. All government accounts must be audited every month
Explanation
Annuality means that parliamentary approval of expenditure is normally related to a particular financial year, subject to constitutional and statutory provisions concerning carry-forward and other arrangements.
UPSC Principal & Vice PrincipalManagement Finance Administration
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