Answer to Question #235240 in Management for Zozi

Question

The financial management of a business is generally concerned with procurement allocation and control of financial resources. Elaborate on each of the following financial management functions listed below: 1.determination of capital composition

2.choice of sources of funds

3.investment of funds

4.disposal of surplus

5.financial controls

Answer 1

Financial control refers to the process and procedures by which nanorganization monitors and regulates the flow , direction and allocation of financial resources.

Surplus disposal refers to the process by which an organization disposees off suplurs materials, goods or resources through an established procedure