Appointing and removing members of the top management including the president is a role of ____.

• Shareholders

• Board of directors

• Managers

• Employees

It means positive result in the operation on the business firm

• Profit and loss analysis

• cash flow management

• Surplus

• Capital budgeting

STATEMENT 1: Lender is otherwise known as savings unit.

STATEMENT 2: Bank is an example of financial intermediary

• Both statements are TRUE

• Only statement 1 is TRUE

• Only statement 2 is TRUE

• Both statements are FALSE

Financial managers perform data analysis and advise senior managers on profitmaximizing ideas

• TRUE

• FALSE

This can be seen in the company’s vision and mission statements.

• Gather the relevant data

• Develop the plan with recommendations and alternatives

• Analyze the data

• Set goals or objectives

It means the application of the plan

• Analyze the data

• Develop the plan with recommendations and alternatives

• Implement the plan

• Monitor the plan

Enumerate the characteristics of an effective plan. (1pt each)

Refers to the quantity of raw materials to be purchased

• cash budget

• sales forecast

• purchase budget

• operations budget

refers to the amount of cash that is to be reported in the projected balance sheet

• purchase budget

• cash budget

• sales forecast

• cashflow

What is the importance of having a good financial plan for the company. (essay)