HSC Commerce 12th Board ExamMaharashtra State Board
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Financial Management is Essential for All Types of Organisations. - HSC Commerce 12th Board Exam - Secretarial Practice

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Question

Financial management is essential for all types of organisations.

Solution

This statement is True.

1) The business organisation irrespective of its type and nature needs finance for its formation, for carrying out day – to – day activities, for development and expansion, etc.

2) Financial management is essential for all types of business organisation as it deals with procurement of funds and their efficient and effective utilization in the business.

3) Financial management deals with planning, organizing, directive and controlling financial activities of business organisations.

4) Generally all business activities are supported by the savings which comes from the society. Many a times these savings are not adequate to meet the financial requirement of the business. It is therefore necessary that available scarce fund must be utilized systematically and more efficiently.

5) Financial management plays a very important role in making the best use of financial resources

  Is there an error in this question or solution?

APPEARS IN

 2014-2015 (March) (with solutions)
Question 4.1 | 5.00 marks

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Solution Financial Management is Essential for All Types of Organisations. Concept: Role and Objectives of Financial Management.
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