Answer the following questions, each in about eight to ten sentences.

What is the role and importance of finance to business concerns?

The role and importance of finance to business concerns are

• Finance is the lifeblood of any organizations, and it plays a major role in every business activity.

• Finance helps in buying/obtaining of resources & raw materials for production and for the marketing of goods & services.

• Finances help in the smooth running of the business, which ultimately helps in attaining the organizational goals.

• Finance regulates investment decisions and expenditure.

• Finance helps in the modernization of business, production changes, assets buying, development, R&D, salaries, marketing and operations.

• Finances help in improving the business for greater profit.

• Financial stability enhances the creditworthiness of any organization.