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Which budgeting approach starts with the previous year's budget and adjusts for

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Question: Which budgeting approach starts with the previous year\'s budget and adjusts for changes?

Options:

  1. Zero-based budgeting
  2. Incremental budgeting
  3. Activity-based budgeting
  4. Flexible budgeting

Correct Answer: Incremental budgeting

Solution: 

Incremental budgeting takes the previous year\'s budget as a base and makes adjustments for the new period.

Which budgeting approach starts with the previous year's budget and adjusts for

Practice Questions

Q1
Which budgeting approach starts with the previous year's budget and adjusts for changes?
  1. Zero-based budgeting
  2. Incremental budgeting
  3. Activity-based budgeting
  4. Flexible budgeting

Questions & Step-by-Step Solutions

Which budgeting approach starts with the previous year's budget and adjusts for changes?
  • Step 1: Understand that budgeting is planning how to spend money.
  • Step 2: Know that there are different ways to create a budget.
  • Step 3: Learn that one way is to look at last year's budget.
  • Step 4: Realize that this method is called incremental budgeting.
  • Step 5: Understand that incremental budgeting means you start with last year's budget.
  • Step 6: Make adjustments to that budget based on any changes needed for the new year.
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