1. **State the problem:** We need to find the greatest and smallest expenses from the given budget decreases for a product launch event. 2. **List the expenses:** Venue (-2400), Catering (-2880), Beverage (-1440), Photographer (-1056), Furniture Rental (-768), Decorations (-384), Invitations (-480). 3. **Identify the greatest expense:** The greatest expense is the largest decrease (most negative value). Among these, Catering with -2880 is the greatest expense. 4. **Identify the smallest expense:** The smallest expense is the smallest decrease (least negative value). Among these, Decorations with -384 is the smallest expense. 5. **Conclusion:** The greatest expense is Catering and the smallest expense is Decorations. **Final answer:** B Catering and Decorations