Role of Financial Management (HSC SSCE Business Studies): Quizzes
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Practise the questions
10 questions from this quiz
What does strategy refer to in business?
What does strategy refer to in business?
Long-term, broad objectives for business
According to ASIC, what percentage of small businesses fail due to poor financial management?
According to ASIC, what percentage of small businesses fail due to poor financial management?
44%
Which is one of the six key activities of strategic financial management?
Which is one of the six key activities of strategic financial management?
Maintaining sufficient cash flow
What is the primary purpose of strategic financial management?
What is the primary purpose of strategic financial management?
Ensure the business achieves its goals
What are financial resources?
What are financial resources?
Resources with monetary or money value
Why do businesses need financial plans when seeking funding?
Why do businesses need financial plans when seeking funding?
Lenders want evidence of growth potential
Which is a component of an effective financial plan?
Which is a component of an effective financial plan?
Break-even analysis
How should financial projections be prepared?
How should financial projections be prepared?
Realistic rather than overly optimistic
What must financial managers do as part of ongoing review?
What must financial managers do as part of ongoing review?
Compare actual figures with projections
What do lenders want to see regarding loan repayments?
What do lenders want to see regarding loan repayments?
The business will be able to make them