What is meant by 'Financial Planning' ? Explain any four requisites of a sound
financial plan.
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Explanation:
Some of the important characteristics of a sound financial planning are: (1) Simplicity (2) Foresight (3) Flexibility (4) Optimum use of funds (5) Liquidity (6) Anticipation of contingencies and (7) Economy. Sound financial planning is necessary for the success of any business enterprise.
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3
Answer:
Finicial planning is the task of determine how a business will afford to achieve its strategic goals and objectives.
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