Correct Answer: Multi-year budgeting

Solution : The correct answer is (b) Multi-year budgeting.

Multi-year budgeting is the process of preparing a budget that covers multiple years, typically beyond the traditional annual budgeting cycle. This approach allows governments and organizations to plan and allocate resources for a longer period, often spanning three to five years or more. Multi-year budgeting helps improve long-term planning, provides stability and predictability, and allows for better assessment of the financial implications of policies and projects over an extended period.