Question

In layman's terms what is the definition of sound finance.

In layman's terms what is the definition of sound finance.

Homework Answers

Answer #1

Sound finance means the observance of certain arrangements which have become sacred habit and tradition.

  • It is an instrumental rather than intrinsic good.
  • Sound finance is sometimes worshipped as an end in itself
  • Sound finance is used in the banking industry.
  • It refers to a government or a community project.
  • For Eg. Assets must be utilized to Ensure the best outcome to limited growth of associated liabilities.
  • Important characteristics of sound financial planning are.:-
  • Simplicity, foresight,liquidity Economy etc
  • Sound financial planning is necessary for the success of any business Enterprise.
  • Each team member assist clients in making sound financial decisions .
  • Manages company's financial resources and cash flow.
  • Helps in making sound management decision and
  • Can help in avoiding business risks.
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