Explanation:

- A budget typically represents a financial plan for a specific period.

- Option 1: Annual

- A budget is mostly prepared for one fiscal year.

- Budgets serve as yearly financial plans for most governments and organizations.

- Governments often set annual budgets to allocate resources effectively.

- Option 2: Two Years

- Less common, but some organizations may have biannual financial plans.

- It allows for slightly more long-term planning compared to an annual budget.

- Option 3: Five Years

- Typically associated with strategic plans rather than budgets.

- A longer duration helps in setting broader financial goals.

- Option 4: Ten Years

- Usually part of long-term strategic planning.

- Not practical for detailed budgeting due to unforeseen changes.

- The correct answer is: Option 1: Annual