Using the ________ for budgeting,the budget is determined based on last year's budget,typically with a percentage increase for inflation.
A)percentage-of-sales method
B)objective-task method
C)historical method
D)competitive method
E)all you can afford method

Question

Quizplus · Accepted Answer

The historical method determines the budget based on the previous year's budget, adjusted for inflation. This method is simple and easy to apply, but it may not reflect changes in the company's goals or market conditions.

Using the ________ for Budgeting,the Budget Is Determined Based on Last