NCERT Solutions for Class 12 Business Studies Chapter 9 Finance And Management

Financial management is the process of planning and monitoring business' financial resources to enable the business to achieve its financial goals. Its strategic role is to keep the business healthy both in the long and short term, the financial resources are those resources in a business that have a money value. Finance is the lifeline of any business. However, finances, like most other resources, are always limited. On the other hand, wants are always unlimited. Therefore, it is important for a business to manage its finances efficiently. As an introduction to financial management, in this article, we will look at the nature, scope, and significance of financial management, along with financial decisions and planning.