Question

To avoid the problem of shortage and surplus of funds .​

Answer 1

Answer:

Financial Planning is required to avoid shortage or surplus of finance. 

 Importance of financial planning is: 

1- It helps in coordinating the various business activities such as sales,purchases, production, finance etc. 

2-It helps in setting up standard and compare with the actual performance. 

The deviations, if any are then analysed. Causes found out and corrective measures are taken.

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