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Test: Introduction to Financial Management - B Com MCQ


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10 Questions MCQ Test - Test: Introduction to Financial Management

Test: Introduction to Financial Management for B Com 2024 is part of B Com preparation. The Test: Introduction to Financial Management questions and answers have been prepared according to the B Com exam syllabus.The Test: Introduction to Financial Management MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction to Financial Management below.
Solutions of Test: Introduction to Financial Management questions in English are available as part of our course for B Com & Test: Introduction to Financial Management solutions in Hindi for B Com course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Introduction to Financial Management | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study for B Com Exam | Download free PDF with solutions
Test: Introduction to Financial Management - Question 1
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Which term refers to the art and science of managing money?

Detailed Solution for Test: Introduction to Financial Management - Question 1
Finance is the term that refers to the art and science of managing money. It includes financial services and financial instruments. The finance function involves the procurement of funds and their effective utilization in business concerns.
Test: Introduction to Financial Management - Question 2
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What is the main aim of any economic activity?

Detailed Solution for Test: Introduction to Financial Management - Question 2
The main aim of any economic activity is to earn a profit. Profit maximization is the traditional and narrow approach that focuses on maximizing the profit of a business concern. Profit is considered as a parameter to measure the efficiency of the concern.
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Test: Introduction to Financial Management - Question 3
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Which term refers to the maximization of the net present value of a course of action for increasing shareholders' wealth?

Detailed Solution for Test: Introduction to Financial Management - Question 3
Shareholders wealth maximization refers to the maximization of the net present value of a course of action for increasing shareholders' wealth. It is a modern approach in financial management that focuses on enhancing the value of the business concern for the benefit of shareholders.
Test: Introduction to Financial Management - Question 4
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Which function of financial management involves the identification of investment opportunities and efficient allocation and utilization of funds?
Detailed Solution for Test: Introduction to Financial Management - Question 4
The investment decision is a function of financial management that involves the identification of investment opportunities and the efficient allocation and utilization of funds. This decision aims to maximize the profitability of the business concern in the long run.
Test: Introduction to Financial Management - Question 5
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Which decision in financial management is concerned with when, where from, and how to acquire funds to meet a firm's investment needs?
Detailed Solution for Test: Introduction to Financial Management - Question 5
The financing decision in financial management is concerned with when, where from, and how to acquire funds to meet a firm's investment needs. It involves determining the proper asset mix for a business and ensuring the availability of funds for the smooth functioning of the organization.
Test: Introduction to Financial Management - Question 6
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What is the scope of financial management that covers various functional departments like personnel, marketing, and production?
Detailed Solution for Test: Introduction to Financial Management - Question 6
Financial management and accounting have a close relationship and cover a wide scope. Accounting records include the financial information of the business concern, and financial management uses this information for decision-making. Financial management is directly related to various functional departments like personnel, marketing, and production.
Test: Introduction to Financial Management - Question 7
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Which concept states that the actual worth of money available at present time is more than its worth in the future?
Detailed Solution for Test: Introduction to Financial Management - Question 7
The concept of time preference of money states that the actual worth of money available at present time is more than its worth in the future. This is because money has the potential to earn additional income or returns over time.
Test: Introduction to Financial Management - Question 8
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Which approach in financial management focuses on maximizing the value or wealth of the shareholders?
Detailed Solution for Test: Introduction to Financial Management - Question 8
The shareholders wealth maximization approach in financial management focuses on maximizing the value or wealth of the shareholders. It considers the net present value of a course of action and aims to enhance the overall value of the business concern for the benefit of shareholders.
Test: Introduction to Financial Management - Question 9
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Which function of financial management involves the management of day-to-day fund requirements of a firm?
Detailed Solution for Test: Introduction to Financial Management - Question 9
The liquidity decision is a function of financial management that involves the proper management of a firm's current assets. It focuses on the day-to-day fund requirements of the business concern and ensures that there is enough cash available to meet the operational needs.
Test: Introduction to Financial Management - Question 10
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What is the term used to describe the efficient use of an important economic resource, namely, capital funds?
Detailed Solution for Test: Introduction to Financial Management - Question 10
Financial management is the term used to describe the efficient use of an important economic resource, namely, capital funds. It involves the procurement of funds and their effective utilization in business concerns. The financial manager plays a key role in managing the financial resources of the organization.
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