Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Financial Management

Question:
Arrange the following steps involved in the process of financial planning in the correct sequence.
Options:
Estimation of expected profit, Preparation of a sales forecast, Preparation of financial statements
Preparation of a sales forecast, Preparation of financial statements, Estimation of expected profit
Preparation of a sales forecast, Estimation of expected profit, Preparation of financial statements
Preparation of financial statements, Estimation of expected profit, Preparation of a sales forecast
Correct Answer:
Preparation of a sales forecast, Preparation of financial statements, Estimation of expected profit
Explanation:
Financial Planning Process
1) Identify your Financial Situation.
2) Determine Financial Goals.
3) Identify Alternatives for Investment.
4) Evaluate Alternatives.
5) Put Together a Financial Plan and Implement.
6) Review, Re-evaluate and Monitor The Plan.