MANAGEMENT

Detailed explanation-1: -The main sources of funding are retained earnings, debt capital, and equity capital. Companies use retained earnings from business operations to expand or distribute dividends to their shareholders. Businesses raise funds by borrowing debt privately from a bank or by going public (issuing debt securities).

Detailed explanation-2: -Personal finance is the process of planning and managing personal financial activities such as income generation, spending, saving, investing, and protection. The process of managing one’s personal finances can be summarized in a budget or financial plan.

Detailed explanation-3: -Personal finance, as a term, covers the concepts of managing your money, saving, and investing. It also includes banking, budgeting, mortgages, investments, insurance, retirement planning, and tax planning.

Detailed explanation-4: -Personal savings is money that has been saved up by an entrepreneur. This source of finance does not cost the business, as there are no interest charges applied.