What is the goal of financial management?
Understand the Problem
The question asks to choose the correct goal of financial management from the given options. This requires understanding the core principles of financial management and its objectives within a company.
Answer
The goal of financial management is to handle a company's finances to ensure success and regulatory compliance.
The goal of financial management is to handle a company's finances to ensure success and regulatory compliance, while also focusing on profit maximization, cost control, liquidity, and stakeholder wealth creation.
Answer for screen readers
The goal of financial management is to handle a company's finances to ensure success and regulatory compliance, while also focusing on profit maximization, cost control, liquidity, and stakeholder wealth creation.
More Information
Financial management involves planning, organizing, directing, and controlling the financial activities of an organization or company.
Tips
A common mistake is to focus solely on profit maximization without considering other crucial aspects like risk management and ethical practices.
Sources
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