
Event Financial Management
Authored by Vivi Vivi
Business
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of financial management in an event?
Determining the number of staff needed
Avoiding unnecessary expenses
Ensuring event sustainability and profitability
Cutting all costs as much as possible
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A major risk in event budgeting is underestimating costs. What is the best way to prevent this?
Allocate at least 10-20% of the budget as contingency funds
Reduce unnecessary expenses at the last minute
Overcharge sponsors to cover unexpected costs
Cut marketing costs to balance the budget
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is having a reserve fund important in an event?
To pay off debts after the event
To cover unexpected expenses
To give bonuses to the organizers team
To increase ticket prices at the last minute
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can be learned from an event that suffered financial losses?
How to reduce ticket prices next time
That financial tracking is unnecessary
That sponsorships should be avoided
How to avoid the same mistakes in financial planning
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the biggest risk of relying on last-minute ticket sales?
Higher operational costs
Increased sponsorship costs
Potential revenue loss due to unsold tickets
Lower quality event execution
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial metric is the most important for evaluating an event's success?
Gross revenue
Net profit margin
Total ticket sales
Number of attendees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An event has total revenue of $500,000 and total expenses of $420,000. What is its profit margin?
16%
20%
25%
30%
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