Which of the Following Is the Most Useful Budget for a Wedding

question 6

Multiple Choice

Which of the following is the most useful budget for a wedding business looking at the profitability of each wedding?

• A) Cash flow budget
• B) Purchasing budget
• C) Wage budget
• D) Project budget

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Definitions:

Pessimistic Situation

A scenario or outlook where the worst possible outcomes are anticipated, often used in risk management or scenario planning.

Accounting Basis

The method by which revenues and expenses are recorded and recognized in financial statements, such as cash basis or accrual basis.

Rate of Return

The profit or deficit incurred on an investment during a designated time, shown as a fraction of the initial investment amount.

Net Income

The profit of a company after all expenses and taxes have been deducted from revenue.