which best describes the purpose of recording past income and spending in a budget? to know the historic…

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

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

Answer

Brief Explanations:

Recording past income and spending in a budget helps in analyzing past financial behavior. This analysis is crucial for making informed decisions about future income - allocation, expense - management, and financial goals. It serves as a foundation for future financial planning.

Answer:

to serve as the basis for future planning