Which of the following definition of financial management is given by "Massie"?
Financial management is the activity concerned with planning, raising, controlling and administering of funds used n the business.
Financial management is that area of business management devoted to a judicious use of capital and a careful selection of source of capital in order to enable a spending unit to move in the direction of reaching its goals.
Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations
None of the above
A
Financial management is the activity concerned with planning, raising, controlling and administering of funds used n the business.
B
Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations
C
Financial management is that area of business management devoted to a judicious use of capital and a careful selection of source of capital in order to enable a spending unit to move in the direction of reaching its goals.
D
None of the above
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Solution
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According to Joseph. L. Massie,
Financial management is the operational activity of a business that is responsible for obtaining and effectively utilizing the funds necessary for efficient operations.
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