Title: Identify the components of a budget.
Course: Sports and Entertainment Management (12163-II) > Section: Exploring Revenues and Expenditures

Identification should include

- fixed expenses (e.g., rent/mortgage, insurance, cost of borrowing)
- variable expenses (e.g., salaries, supplies, equipment, utilities, taxes, maintenance, marketing)
- income (e.g., sources of revenue).

Process/Skill Questions:

- What are the steps in determining a budget?
- How often should actual expenses and revenues be compared against the budget?
- What are some examples of unanticipated expenses? How could these be handled in budget planning?
- Which budget components are difficult to predict?
- How does a business budget differ from a personal budget?
- What budget factors are unique to sports and entertainment industries?