The First Step in Financial Planning Is to ____________

question 30

Multiple Choice

The first step in financial planning is to ____________. ​

• A)define one's financial goals
• B)set up a budget
• C)calculate one's liquidity ratio
• D)prepare a trend analysis

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Definitions:

Return On Investment

A financial metric used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments, often expressed as a ratio or percentage.

CEOs

Chief Executive Officers; the highest-ranking individuals in a company or organization, responsible for making major corporate decisions and managing overall operations and resources.

Costing Scheme

A method for determining the expenses associated with a project or activity, taking into account direct and indirect costs.

Needs Analysis

A process used to determine the gaps between current capabilities and desired outcomes, often used to identify training and development requirements.