Final answer:
The capital budgeting technique least used according to Graham and Harvey's 1999 survey of 392 CFOs is the Profitability Index.
Step-by-step explanation:
According to Graham and Harvey's 1999 survey of 392 CFOs, the capital budgeting technique that is least used is the Profitability Index. This survey assessed the use of various capital budgeting techniques which include Net Present Value (NPV), Payback Period, Profitability Index, According to Graham and Harvey's 1999 survey of 392 CFOs, the capital budgeting technique that is least used is the Payback Period. The Payback Period is the length of time it takes for a project to recoup the initial investment. While it is a simple method, it does not take into consideration the time value of money and does not provide a comprehensive view of a project's profitability and the Internal Rate of Return (IRR). The Profitability Index is less commonly used in comparison because it is a relative measure (it relates the present value of future cash flows to the initial investment) rather than an absolute measure of profitability, which may be favored by CFOs for decision-making purposes.