Question : Which country first introduced zero-based budgeting?
Option 1: India
Option 2: Germany
Option 3: The US
Option 4: The UK
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Correct Answer: The US
Solution : The correct answer is The US.
Zero-base budgeting is an approach to creating a zero-base budget from scratch that was first developed in the United States in 1970 by Peter Phyrr. This budgeting technique involves approving and justifying every expense incurred by a company for every new phase of operation. The Department of Science and Technology in India introduced the ZBB concept in 1983.
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