Your company is facing unexpected expenses midway through the budgeting period. How would you adjust the budget to accommodate these expenses while maintaining financial stability?
- Implement cost-cutting measures
- Negotiate payment terms with vendors
- Reallocate funds from less critical areas
- Seek additional financing
When facing unexpected expenses, reallocating funds from less critical areas can help maintain financial stability without compromising essential operations. It allows for a balanced approach to budget adjustments, ensuring financial sustainability.
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