7 Questions
What is the significance of finance in a business concern?
It is interlinked with all activities performed by the business concern
What happens if the finance in a business concern is not properly arranged?
The business system will stop
How can the financial requirements of a business concern be broadly classified?
Short-term and long-term financial requirements
What does long-term financial requirement refer to?
Finance needed to acquire land, building, and other fixed expenditure
What is fixed capital in the context of a business concern?
The capital used to purchase fixed assets such as land and building
What does fixed capital requirement include?
Expenditure on land and building, plant and machinery
What determines the quantum of finance required by a business concern?
The nature and situation of the business concern
This quiz covers the fundamental role of finance in business concerns, emphasizing its critical importance in enabling the smooth functioning of all business activities. It includes aspects such as arranging required finance for different departments and making careful decisions regarding the quantum of finance.
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