Question

"Money is the life blood of business/office." Justify this statement in atleast three paragraph.
please help ​

Answer 1

Answer:

Finance is considered as the lifeblood of an industry because finance is the master key that provides access to all the sources for being employed in manufacturing and merchandising activities. The success of an organization largely depends on efficient management of its finances.

There are four main functional areas in any business organization. These are – Marketing, Finance, Human Resource and IT. All of these areas are indispensable for the proper functioning of the organization. It is obvious to even a layman that finance is considered as a critical resource by each and every economic entity be it an individual or a firm. Without financial resources no economic activity can be brought to fruition. It would not be an over statement to say that finance is the life blood of all organizations. The work of a financial manager is crucial for the healthy functioning of the business. In a survey of the CEOs in US it was concluded that the most important skill required for future CEOs would be their financial skills.

Explanation:

Answer 2

Explanation:

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