The steps in effective financial planning are
A) establishing organizational goals, identifying expenses, and budgeting.
B) establishing organizational goals, budgeting for financial needs, and identifying sources of financing.
C) developing a plan of action, monitoring the plan, and evaluating.
D) identifying sources of financing, budgeting, and evaluating.
E) None of these answers are correct.

Question

Quizplus · Accepted Answer

Effective financial planning involves establishing organizational goals, identifying financial needs, and identifying sources of financing to achieve those goals. Budgeting is also a critical component of financial planning to ensure that financial resources are properly allocated and used. Once the plan is implemented, it should be regularly monitored and evaluated to ensure that it is meeting the organization's goals and financial objectives.

The Steps in Effective Financial Planning Are