HUS523 FINANCE

List the different sources of revenue generation in organizations.

Answer explanation

• Fees

• Taxes

• Sponsorships

• Donations

• Grants

• Membership dues

• Ticket sales

• Merchandise sales

• Concessions (food, beverages, etc.)

• Facility rentals

Which of the following is a key financial responsibility of a sport manager?

• Coaching athletes

• Preparing budgets
  

• Marketing products

• Scheduling games

Which of these revenue sources is most common for nonprofit sport organizations?

• Sponsorships and donations

• Ticket sales only
  

• Commercial advertising

• Merchandise sales
  

A sport manager must be able to

• Predict competition outcomes
  

• Estimate and implement budget plans

• Train athletes in all sports

• Design merchandise

Name the two major budget timetables in recreational sport organizations and give two examples of how budget preparation periods may be structured

Answer explanation

• Major budget timetables: Annual (1-year) budget and Biennial (2-year) budget.

• Budget preparation periods: Calendar year (Jan–Dec), Academic year (Aug–May), or Fiscal year (July–June).