BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A comprehensive financial plan should include wealth build-up, debts managements, insurance coverage, expenses and purification of property.
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TRUE
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FALSE
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Explanation:
Detailed explanation-1: -Comprehensive financial planning considers the entirety of your financial life. Your assets, your liabilities, your taxes, your income, your business-these aspects of your financial life are never isolated from each other. Occasionally or frequently, they interrelate.
Detailed explanation-2: -There are five essential components of a financial plan such as Insurance planning, Retirement Planning, Investment Planning, Tax Planning and Estate Planning.
Detailed explanation-3: -The four main types of financial planning are cash flow planning, tax planning, investment planning, and retirement planning. Each of these types of financial planning has different goals, concerns, and objectives.
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