Question

Why finance is termed as the life blood of an industry?

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. ... Without financial resources no economic activity can be brought to fruition.

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Answer 2

Explanation:

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. ... Without financial resources no economic activity can be brought to fruition.As the success of every organization largely depends on the effective functioning of the finance function, therefore Finance is regarded as the lifeblood of every business organization.Financial management helps a business to determine what money to spend, where to spend it and when it should be spent. It also gives an overall view of the financial status of the business, helping to determine business strategy and direction as well as contributing to the objectives of the organisation.

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