A budget is an itemized listing of which two components?

A budget is fundamentally a financial plan that outlines an organization's expectations for revenue and expenditures over a specific period. The correct answer highlights two critical components: anticipated revenue and projected expenses.

Anticipated revenue refers to the expected income from various sources during the budget period, while projected expenses encompass all estimated costs associated with operations. This combination is essential for effective financial planning, as it helps organizations to allocate resources prudently and to ensure they can meet their financial commitments.

Understanding anticipated revenue allows organizations to forecast how much income they might generate, which aids in strategic planning and decision-making. On the other hand, projecting expenses ensures that all costs are accounted for, helping to avoid overspending and ensuring profitability. This balance is essential for sustaining operations and achieving financial goals within the hospitality and tourism sectors.