ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A good first step in financial planning would be to
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hire a professional financial planner
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create a balance sheet and cash flow statement
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pay off all of your debts
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develop long-term financial goals
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Explanation:
Detailed explanation-1: -The income statement, which is sometimes called the statement of earnings or statement of operations, is prepared first. It lists revenues and expenses and calculates the company’s net income or net loss for a period of time.
Detailed explanation-2: -Review your estimated cash flows against the actual This is the most important step. Doing this will highlight any differences between estimated and actual so you can see why your cash flow didn’t meet your expectations.
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