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The main objective of financial planning is to ensure that_________
- a)Enough funds are available at the right time
- b)Dividend is paid to shareholders on the right time
- c)Purchase of raw material
- d)Purchase of fixed assets
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
The main objective of financial planning is to ensure that_________a)E...
Financial planning is a crucial aspect of any business organization as it involves managing the financial resources effectively and efficiently. The main objective of financial planning is to ensure that enough funds are available at the right time to meet the organization's financial obligations. This involves forecasting future cash flows, setting financial goals, and developing strategies to achieve these goals.
The following are the key points that explain the objective of financial planning:
1. Forecasting future cash flows: Financial planning involves estimating future cash inflows and outflows to determine the organization's financial position. This helps in identifying the funds required for various activities and ensures that enough funds are available at the right time.
2. Setting financial goals: Financial planning helps in setting realistic financial goals for the organization. These goals can be short-term or long-term and can include increasing profitability, reducing costs, or expanding the business.
3. Developing strategies: Financial planning involves developing strategies to achieve the financial goals set by the organization. This can include investing in new projects, reducing costs, or increasing sales.
4. Managing financial resources: Financial planning helps in managing the organization's financial resources effectively. This involves allocating funds to various activities based on their priority and ensuring that the funds are utilized in the most efficient manner.
In conclusion, financial planning is essential for any business organization as it helps in managing the financial resources effectively and achieving the organization's financial goals. The main objective of financial planning is to ensure that enough funds are available at the right time to meet the organization's financial obligations.
The following are the key points that explain the objective of financial planning:
1. Forecasting future cash flows: Financial planning involves estimating future cash inflows and outflows to determine the organization's financial position. This helps in identifying the funds required for various activities and ensures that enough funds are available at the right time.
2. Setting financial goals: Financial planning helps in setting realistic financial goals for the organization. These goals can be short-term or long-term and can include increasing profitability, reducing costs, or expanding the business.
3. Developing strategies: Financial planning involves developing strategies to achieve the financial goals set by the organization. This can include investing in new projects, reducing costs, or increasing sales.
4. Managing financial resources: Financial planning helps in managing the organization's financial resources effectively. This involves allocating funds to various activities based on their priority and ensuring that the funds are utilized in the most efficient manner.
In conclusion, financial planning is essential for any business organization as it helps in managing the financial resources effectively and achieving the organization's financial goals. The main objective of financial planning is to ensure that enough funds are available at the right time to meet the organization's financial obligations.
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The main objective of financial planning is to ensure that_________a)E...
To ensure availability of funds whenever these are required:
The main objective of financial planning is that sufficient fund should be available in the company for different purposes such as for purchase of long term assets, to meet day-to- day expenses, etc. It ensures timely availability of finance.
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