Answered

Which best describes the purpose of recording past income and spending in a budget?
O
to know the historic cost of goods
O to serve as the basis for future planning
OO
to learn why having savings is important
to learn why expenditures are likely to increase



Answer :

GinnyAnswer

Final answer:

Recording past income and spending in a budget serves as the basis for future financial planning.


Explanation:

The purpose of recording past income and spending in a budget is to serve as the basis for future planning. By analyzing past financial data, individuals or organizations can make informed decisions for their future financial goals. Understanding past income and spending patterns helps in creating a realistic and effective budget that aligns with one's financial objectives.


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