Financial Management Quiz

Maximizing profits (correct)

Maximizing employee satisfaction

Maximizing sales

Minimizing costs

Financial accounting is focused on tax compliance, while financial management is focused on financial planning

Financial accounting deals with recording financial transactions, while financial management is concerned with managing financial resources (correct)

Financial accounting is concerned with managing financial resources, while financial management deals with recording financial transactions

Financial accounting is only used by large corporations, while financial management is used by all businesses

To increase employee satisfaction and motivation

To evaluate the company's financial performance and make informed decisions (correct)

To reduce costs and increase sales

To comply with tax regulations