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Question

"Finance is the life blood for business enterprises".Explain briefly the significance of business finance.

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Solution

Finance is regarded to be the lifeblood of any business organisation because:

(a) Finance is required for the continuous and smooth functioning of business activities.

(b) Finance is required for establishing the business to meet preliminary expenses, promotion cost.

(c) Finance is needed to start the business by buying fixed and current assets.

(d) A business firm requires finances to diversify and modernise its production process.

(e) Business finance is needed for the expansion and growth of the business.


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