Question : Ravi is trying to coordinate the functioning of various department. Which of the following importance of financial planning is highlighted in the given statement?
Option 1: Helps in avoidance of business shocks and surprises
Option 2: Helps in coordinating various business functions.
Option 3: Helps in reducing waste and duplication of efforts.
Option 4: Provides link between investment and financing decision.
Correct Answer:
Helps in coordinating various business functions.
Solution : Financial planning is essentially the preparation of a financial blueprint of an organisations futures operations. It helps in achieving coordination between various functions by providing clear policies and procedure.
Hence, option B is correct.
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