10 Questions
What is the primary goal of financial management?
Maximize the wealth of the shareholders
Which of the following best describes the role of a Finance Manager?
Strategic financial planning
In a typical organization, the Finance Department usually reports to:
Chief Financial Officer
What is a key responsibility of the Finance Manager?
Risk assessment and mitigation
Which of the following is NOT a major type of decision made by a Finance Manager?
Human resource decisions
What does ROA stand for in finance?
Return on Assets
How does financial management differ from financial accounting?
Financial management involves decision-making, while financial accounting involves record-keeping.
Which department is likely to closely collaborate with the Finance Department to manage cash flow effectively?
Supply Chain Department
What is the significance of financial management for a business?
To maximize shareholder wealth
What makes a Chief Financial Officer (CFO) a key player in an organization?
Strategic financial planning and decision-making
Explore the various organizational structures in finance management, from small businesses where the head assumes multiple roles to medium-size businesses with specialized Finance Managers. Learn about the distribution of responsibilities in different types of business firms.
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