BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following should be considered when developing a long-term financial plan?
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Inflation Rate
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Interest Rate
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Personal Health
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Explanation:
Detailed explanation-1: -Consider your needs and obligations at each lifestage How long do I have left on my mortgage? What are my monthly living expenses and how will these change over time? What other expenses will I have throughout my life? How long will my children and/or grandchildren be dependent on me financially?
Detailed explanation-2: -Your financial plan should include seven key elements (which we will cover in more detail below): your profit and loss statement, operating income, cash flow statement, balance sheet, revenue projection, personnel plan, as well as your business ratios and break-even analysis.
There is 1 question to complete.