Business Arithmetic — Entrepreneurship STD 12 Commerce — Question
CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipBusiness Arithmetic3 Marks
Question
There are three key elements in the process of financial management. Explain them.
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Answer
The three key elements in the process of financial management are discussed below:
Financial planning: It makes sure that enough funding is available at the right time to meet the short-term, medium term and long-term needs of the business.
Financial control It helps the business to ensure that it is able to meet its objectives.
Financial decision-making: The key aspects of financial decision-making relate to investment, financing and dividends.
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