Which of the following is/was the type of budgetary practice followed

1.	Which of the following is/was the type of budgetary practice followed in India?1. Zero-base budgeting2. Output and outcome budgeting3. Development budgeting4. Programmed BudgetingChoose the correct answer using the codes below1. 1, 2 and 32. 1 and 2 only3. 2, 3 and 44. 1, 3 and 45. All 1, 2, 3 and 4
Answer» Correct Answer - Option 2 : 1 and 2 only The correct answer is 1 and 2 only Development budgeting is done in order to monitor progress towards goals, help controlling spending and predict cash flow and profit. It is usually done by companies. Programme budgeting, developed by U.S. president Lyndon Johnson, is the budgeting system that, contrary to conventional budgeting, describes and gives the detailed costs of every activity or programme that is to be carried out with a given budget. For example, Expected results in a proposed programme are described fully, along with its necessary resource, raw materials, equipment, and staff costs. The sum of all activities or programmes constitute the Programme Budget. Thus, when looking at a Programme Budget, one can easily find out what precisely will be carried out, at what cost and with what expected results in considerable detail.

Which of the following is/was the type of budgetary practice followed in India?1. Zero-base budgeting2. Output and outcome budgeting3. Development budgeting4. Programmed BudgetingChoose the correct answer using the codes below1. 1, 2 and 32. 1 and 2 only3. 2, 3 and 44. 1, 3 and 45. All 1, 2, 3 and 4

Answer» Correct Answer - Option 2 : 1 and 2 only

The correct answer is 1 and 2 only

Development budgeting is done in order to monitor progress towards goals, help controlling spending and predict cash flow and profit. It is usually done by companies.
Programme budgeting, developed by U.S. president Lyndon Johnson, is the budgeting system that, contrary to conventional budgeting, describes and gives the detailed costs of every activity or programme that is to be carried out with a given budget.
- For example, Expected results in a proposed programme are described fully, along with its necessary resource, raw materials, equipment, and staff costs. The sum of all activities or programmes constitute the Programme Budget.
Thus, when looking at a Programme Budget, one can easily find out what precisely will be carried out, at what cost and with what expected results in considerable detail.