Explanation:

- A budget is a financial plan that details expected income and expenses over a set period.

- Different countries and organizations may use budgets of varying durations to suit their needs.

- Option 1: Annual

- Most common.

- Covers one fiscal year.

- Allows detailed planning and responsiveness to yearly changes.

- Option 2: Two Years

- Known as a biennial budget.

- Less common but used by some governments for longer-term planning.

- Option 3: Five Years

- Often used for strategic planning.

- Common in large organizations or long-term projects.

- Option 4: Ten Years

- Used for very long-term forecasting.

- Less practical for detailed yearly budgeting.