Event Management Event Budgeting and Finance 3

Question 1

Which financial document summarizes all event revenues, expenses, and net profit or loss after the event?

Accepted Answer

Post-event financial report

Answer

Invoice log

Answer

Vendor proposal

Answer

Request for proposal (RFP)

Question 2

Sponsorship revenue in an event budget is best classified as which type of income?

Accepted Answer

Earned revenue

Answer

In-kind contribution

Answer

Deferred revenue

Answer

Operating expense

Question 3

What is an 'in-kind sponsorship' in event finance?

Accepted Answer

Goods or services provided by a sponsor instead of cash

Answer

A monetary donation from a sponsor

Answer

A sponsor who volunteers staff

Answer

A rebate on venue costs

Question 4

Which metric helps an event planner evaluate whether ticket pricing is optimal?

Accepted Answer

Price elasticity of demand

Answer

Net promoter score

Answer

Attrition rate

Answer

Lead conversion rate

Question 5

What is the purpose of a 'variance analysis' in post-event budget review?

Accepted Answer

To identify differences between budgeted and actual costs

Answer

To compare different venue quotes

Answer

To calculate sponsor ROI

Answer

To forecast next year's budget

Question 6

Which accounting method records revenue when it is earned and expenses when incurred, regardless of when cash changes hands?

Accepted Answer

Accrual basis accounting

Answer

Cash basis accounting

Answer

Modified cash basis

Answer

Single-entry accounting