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Business Studies · 2023 · 4 marks
CBSE 2023 · Region 3 · Set 2 · Q30
Kaveri is busy in preparing the financial blueprint for
future operations. She feels that detailed plans of action reduce waste
and duplication of efforts. However, her friend, Sana feels that in an
uncertain and dynamic world, this type of planning may not work. Kaveri
again stresses on her statement and explains why this financial blueprint
is important.
Identify the concept and state three points of its importance in addition
to those explained in the above para.
Marking-scheme solution
Financial Planning
Importance of Financial Planning :
(i)
It helps in forecasting what may happen in
future under different situations and face the
eventual situation in a better way.
(ii)
It helps in avoiding business shocks and
surprises and helps the company in preparing
for the future.
(iii)
It helps in co-ordinating various business
functions, like sales and production functions,
by providing clear policies and procedures.
(iv)
It tries to link the present with the future.
(v)
It provides a link between investment and
financing decisions on a continuous basis.
(vi)
It makes the evaluation of actual performance
easier.
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CBSE Class 12 Business Studies past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.