A Financial Manager Is Responsible for Obtaining the Necessary Money

question 48

True/False

A financial manager is responsible for obtaining the necessary money to enable a firm to achieve its goals and objectives.

---

Definitions:

Depreciation

The process by which assets lose value over time due to wear and tear or obsolescence.

Savings

The portion of an individual's or entity's income that is not spent on current expenditures and is instead reserved for future use or investment.

Disposable Income

Money available to families for savings and expenses after accounting for income taxes.

C+ I

An economic term representing total consumption (C) and investment (I) in an economy, key components of the gross domestic product (GDP).