BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To ensure availability of funds whenever required
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To ensure maximization of profit
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To ensure unnecessarily finance is not raised
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to ensure development of business
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To ensure full use of available funds
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Detailed explanation-1: -Benefits of financial planning Arranging and ensuring the availability of sufficient funds in line with business needs. Financial planning supports the long-term development of a business steadily.
Detailed explanation-2: -The objective of financial planning is to make sure you have the money to achieve it all. Having a good financial plan means resources have been allocated towards achieving your goals in a systematic manner.
Detailed explanation-3: -Excess funding is as bad as a shortage of funds. An efficient financial planning system ensures that the funds are not raised unnecessarily to avoid unnecessary addition of cost. If there is any surplus money, it should be used e in the best possible manner to avoid any loss for the organisation.
Detailed explanation-4: -Identifying your retirement goals and taking the appropriate steps to help achieve them are key aspects of your financial plan.