Question

You are given two million dollars to manage a retail store. Fill out the sheet on page 2 to create a budget for the retail store using 9 of the 20 major categories below. Use a tenth category named Other to encompass any expenses that do not apply to the nine selected categories. For each major category you select, you are free to select your own subcategories and assign a budget accordingly. (See the example at the bottom of this page). Major Categories

1. Employees
2. Insurance
3. Marketing
4. Sales
5. Royalties
6. Procurement
7. Utilities
8. Mortgage
9. Technology
10. Maintenance
11. Accounting
12. Subscriptions
13. Shipping
14. Equipment
15. Security
16. Bank
17. Advertising
18. Taxes
19. Legal Support
20. Waste

Answer 1

When given a budget of two million dollars to manage a retail store, it is important to create a budget that covers all necessary expenses. By allocating funds to specific categories and sticking to the budget, you can ensure that you have enough funds to cover all essential expenses for the retail store.

Step-by-step explanation:

When given a budget of two million dollars to manage a retail store, it is important to create a budget that covers all necessary expenses. Using nine out of the twenty major categories provided, you can allocate funds to each category based on your specific needs.

For example, you may allocate a budget for employees, insurance, marketing, sales, procurement, utilities, technology, maintenance, and taxes. Any expenses that do not fit into these categories can be included in the 'Other' category.

By creating a budget and sticking to it, you can ensure that you have enough funds to cover all essential expenses for the retail store.