Preheat your oven to 350°F (175°C). Grease a 9x5-inch loaf pan or line it with parchment paper for easy removal.
In a medium bowl, whisk together the flour, baking soda, baking powder, cinnamon, and salt until well combined.
In a large mixing bowl, combine the granulated sugar, brown sugar, and vegetable oil. Mix until smooth.
Add the applesauce, eggs, and vanilla extract to the sugar mixture. Beat until fully incorporated.
Gradually add the dry ingredients to the wet ingredients, stirring gently until just combined. Be careful not to overmix.
If using, fold in the chopped nuts and raisins.
Pour the batter into the prepared loaf pan and spread it evenly.
Bake in the preheated oven for 50-60 minutes, or until a toothpick inserted into the center comes out clean.
Allow the bread to cool in the pan for about 10 minutes, then transfer it to a wire rack to cool completely.