Question

"Finance may be defined as that administration area or set of administrative functions in an organization may have the means of carrying out its objectives as satisfactorily, as possible." This definition is given by-

• A. B.O. Wheeler
• B. Howard and Upton
• C. ICSI
• D. ICAI

Answer 1

The correct option is B Howard and Upton

Finance may be defined as the art and science of managing money. It includes financial service and financial instruments. Finance also is referred as the provision of money at the time when it is needed. Finance function is the procurement of funds and their effective utilization in business concerns.

According to Howard and Upton, “finance may be defined as that administrative area or set of administrative functions in an organization which relates with the arrangement of each and credit so that the organization may have the means to carry out the objectives as satisfactorily as possible".