Asked by Kennedy McCarthy on Jun 10, 2024
Verified
Conventional wisdom holds that financial plans don't work, but financial planning does.
Financial Plans
Strategic documents that outline an individual's or organization's current financial situation, goals, and strategies to achieve those goals.
Financial Planning
The process of creating strategies for managing finance, including budgeting, saving, investing, and planning for future financial needs.
- Comprehend the basic principles and significance of financial planning in commercial entities.
Verified Answer
VT
Victor TrevinoJun 10, 2024
Final Answer :
True
Explanation :
Financial plans may not always work as intended due to the unpredictable nature of life and markets, but the process of financial planning is valuable for adapting to changes and achieving long-term goals.
Learning Objectives
- Comprehend the basic principles and significance of financial planning in commercial entities.