SCOPE AND SOURCES OF FINANCE
MEANING AND SCOPE OF FINANCE
The notion of finance is different than that of money, finance is a broader term. Finance may be defined as an art or science of managing money. Finance refers to the provision of money at the time when it is needed. The finance function is also defined in terms of procurement of funds and their effective utilization in business organizations. It refers to the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time, taking into account the underlying constraints. It may include non-monetary assets as well, though they may be less liquid than money and less fungible.
Finance, production, and marketing are the three ‘prime functions’ in ...
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