BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All aspects of acquiring and utilizing financial resources for firms activities
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Arrangement of funds
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Efficient Management of every business
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Profit maximisation
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Detailed explanation-1: -Financial Management is mainly concerned with all aspects of acquiring and utilizing financial resources for firms activities. Financial Management is the application of general principles of management to the financial possessions of an enterprise.
Detailed explanation-2: -Financial management is that managerial activity which is concerned with planning and controlling of the firm’s financial resources. In other words it is concerned with acquiring, financing and managing assets to accomplish the overall goal of a business enterprise (mainly to maximise the shareholder’s wealth).
Detailed explanation-3: -There are four recognized elements of financial management: (1) planning, (2) control-ling, (3) organizing and directing, and (4) decision making.