Gauhati University BCom 4th Semester NEP FYUGP Fundamentals of Financial Management Important Questions 2025: In this post, we have provided a unit-wise list of important topics and Important questions specially prepared for the 2025 examination. These questions are based on the latest UGCBCS/NEP syllabus, previous year question trends, and expert analysis. The aim is to help students focus on the most relevant topics and prepare strategically for better performance in the exam.
Gauhati University FYUGP Syllabus
BCom Semester: 4th
Credit: 4, Marks: 100
Syllabus Based on: UGCBCS/NEP FYUGP
Course Level: 400 to 499
Course Name: Fundamentals of Financial Management (Major 4)
Unit 1: Introduction
This unit covers the nature, scope, and objective of financial management. It includes the concept of the time value of money, risk, and return, including the Capital Asset Pricing Model. The valuation of securities, including bonds and equities, is also discussed. Marks: 20
Unit 2: Investment Decisions
This unit focuses on the capital budgeting process and cash flow estimation. Various investment appraisal methods such as the Payback Period Method, Accounting Rate of Return, Net Present Value (NPV), Net Terminal Value, Internal Rate of Return (IRR), and Profitability Index are covered. Capital budgeting under risk is also included, with emphasis on the Certainty Equivalent Approach and Risk-Adjusted Discount Rate. Marks: 20
Unit 3: Financing Decisions
This unit explores the cost of capital and financing decisions, including sources of long-term financing and the estimation of components of cost of capital. Methods for calculating the cost of equity capital, cost of retained earnings, cost of debt, and cost of preference capital are covered. The unit also includes Weighted Average Cost of Capital (WACC) and Marginal Cost of Capital. Theories of capital structure, including the Net Income Approach, Net Operating Income Approach, MM Hypothesis, and Traditional Approach, are discussed. Operating and financial leverage, along with the determinants of capital structure, are also included. Marks: 20
Unit 4: Dividend Decisions
This unit deals with theories regarding the relevance and irrelevance of dividend decisions for corporate valuation. It covers different types of dividends, including cash and stock dividends, and examines dividend policies in practice. Marks: 20
Unit 5: Working Capital Decisions
This unit explains the concepts of working capital and the risk-return trade-off. It discusses sources of short-term finance, working capital estimation, cash management, receivables management, inventory management, and payables management. Marks: 20
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Exam-focused breakdown of the important topics unit-wise for BCom 4th Semester – Fundamentals of Financial Management (Major 4) under Gauhati University NEP (FYUGP) syllabus.
High-weight topics often asked in exams
Conceptual + numerical focus
Models & theories you must not skip
FFM Most Important Topics
UNIT 1: Introduction
(Focus: Concepts, Models & Valuation)
Most Important Topics:
Meaning, Nature, Scope & Objectives of Financial Management
Time Value of Money:
Present Value (PV) & Future Value (FV) calculations
Annuity & Perpetuity
Risk & Return:
Types of risk (systematic/unsystematic)
Calculation of return, standard deviation, beta
CAPM Model:
E(R) = Rf + β(Rm − Rf)
Use in asset pricing
Valuation of Securities:
Bond valuation (PV of coupon + redemption value)
Equity valuation using Dividend Discount Model (DDM)
Type of questions: Definitions, short derivations, and numerical problems
UNIT 2: Investment Decisions
(Focus: Capital Budgeting Techniques)
Most Important Topics:
Capital Budgeting Process
Cash Flow Estimation:
Initial investment, Operating CF, Terminal CF
Evaluation Techniques:
Payback Period (Simple & Discounted)
Accounting Rate of Return (ARR)
Net Present Value (NPV) – Very important
Internal Rate of Return (IRR) – Numerical expected
Profitability Index (PI)
Capital Budgeting under Risk:
Risk Adjusted Discount Rate
Certainty Equivalent Approach
Type of questions: Mostly numericals, with short conceptual notes
UNIT 3: Financing Decisions
(Focus: Cost of Capital & Capital Structure)
Most Important Topics:
Sources of Long-term Finance
Cost of Capital:
Cost of Debt (Before & After tax)
Cost of Equity (DDM & CAPM)
Cost of Retained Earnings
Cost of Preference Shares
WACC Calculation (with weights) – Frequently asked numericals
Capital Structure Theories:
Net Income (NI) & Net Operating Income (NOI) Approach
MM Theory (with & without tax)
Traditional Approach
Leverages:
Operating Leverage (DOL)
Financial Leverage (DFL)
Combined Leverage (DCL)
Determinants of Capital Structure
Type of questions: Theories, short notes, and calculations
UNIT 4: Dividend Decisions
(Focus: Dividend Theories & Policy)
Most Important Topics:
Meaning & Types of Dividends:
Cash, Stock/Bonus, Interim
Theories:
Walter’s Model – Formula based
Gordon’s Model – Formula based
MM Hypothesis – With assumptions
Factors affecting dividend policy
Dividend practices in India
Type of questions: Theoretical explanation, models with basic numericals
UNIT 5: Working Capital Decisions
(Focus: Estimation & Management)
Most Important Topics:
Concept, Types, and Importance of Working Capital
Factors Determining Working Capital Requirement
Estimation of Working Capital – Numerical expected
Sources of Short-Term Finance
Cash Management Techniques
Receivables Management (Credit Policy, Collection Techniques)
Inventory Management (EOQ, ABC Analysis)
Payables Management
Type of questions: Definitions, short questions, numerical estimation
BONUS TIPS for Exam:
Prepare at least 2 numericals per unit.
Focus on CAPM, NPV, IRR, WACC, Walter’s & Gordon’s Models – common repeat questions.
Short notes are often asked from terms like Risk-Return, Leverage, EOQ, WACC.
Course Name: Fundamentals of Financial Management
Unit 1: Introduction
Section 1: MCQs, True/False, Fill-in-the-Blanks (1 mark each)
Key financial functions of a firm do not include:
a) Investment decision
b) Dividend decision
c) Buying decision
d) Financing decision
(GU BCom 2018)Every financial decision should be based on cost-benefit analysis. (True/False) (GU BCom 2022)
Investment decisions are outside the purview of financial decisions. (True/False) (GU BCom 2023)
The primary objective of financial management is to maximize shareholder wealth. (True/False)
Profit maximization ignores:
a) Wealth
b) Time value of money
c) Net value
d) None of the above
(GU BCom 2017, 2024)The time value of money concept recognizes that a rupee today is worth more than a rupee tomorrow. (True/False)
The Capital Asset Pricing Model (CAPM) assumes that investors are risk-averse. (True/False)
Risk in financial management refers to the uncertainty of expected returns. (True/False)
Market capitalization is a measure of:
a) Wealth created by equity
b) Share price indicator of the equity
c) Market price indicator of the securities
d) Cost of equity as compared to market price of the equity
(GU BCom 2024)The valuation of bonds depends on the interest rate and maturity period. (True/False)
Section 2: 2-mark Questions
What is financial management? (GU BCom 2023)
What are the objectives of financial management?
State the objectives of wealth maximization. (GU BCom 2024)
Define the concept of time value of money.
What is the importance of the time value of money in financial decisions?
State the meaning of 'risk' in financial management. (GU BCom 2016)
What is the relationship between risk and return?
What is meant by valuation of securities?
What factors influence the valuation of equities?
Section 3: 5-mark Questions
State the nature of financial management. (GU BCom 2023)
Describe the various perspectives of financial goals. (GU BCom 2016)
What are the key features of the scope of financial management?
Why is wealth maximization objective considered superior to profit maximization objective? Write five reasons. (GU BCom 2022)
Why is wealth maximization a more viable goal of financial function? Explain. (GU BCom 2017)
What is wealth or value maximization goal of a corporate entity? (GU BCom 2018)
Explain the significance of the time value of money in financial decision-making.
Discuss the basic principles underlying the time value of money.
Discuss the basic assumptions of the Capital Asset Pricing Model (CAPM).
Explain the concept of risk and return in financial management.
Write a brief note on valuation of securities. (GU BCom 2022)
Explain the difference between bond valuation and equity valuation.
Section 4: 10-mark Questions
Discuss the scope and objectives of financial management. (GU BCom 2023, 2024)
What is meant by financial management? Explain the importance of financial management. (GU BCom 2013)
Describe the scope and functions of financial management. (GU BCom 2016, 2018)
Discuss the role and responsibilities of a finance manager in a modern business organization. (GU BCom 2022)
Elaborate the various finance functions discharged by a finance manager. (GU BCom 2014)
"Financial management is concerned with the solution of three major decisions—financing, investment, and dividend." Explain the statement highlighting the interrelationship amongst these three decisions. (GU BCom 2017)
Explain the interrelationship among financing, investment, and dividend distribution decisions of financial management. (GU BCom 2019)
Discuss the financial goals and compare between profit maximization versus wealth maximization goals. (GU BCom 2014)
"Profit maximization is not the adequate criterion to judge the efficiency of a firm." Explain the statement. (GU BCom 2013, 2019)
Explain the role of the time value of money in evaluating long-term financial decisions.
Discuss how the time value of money impacts the objective of wealth maximization in financial management.
What is the Capital Asset Pricing Model? Discuss its assumptions and significance in measuring risk and return. (GU BCom 2022 - Modified to theoretical)
Explain the concept of risk and return and their relationship in financial management.
Discuss the role of the Capital Asset Pricing Model in assessing investment risk.
Discuss the factors affecting the valuation of bonds and equities in financial markets.
Explain the principles and methods used in the valuation of securities.
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Unit 2: Investment Decisions
Section 1: MCQs, True/False, Fill-in-the-Blanks (1 mark each)
Total money outlays divided by annual cash inflow =
a) Pay-in period
b) Payout ratio
c) Payback period
d) Gross capital recovery period
(GU BCom 2014)Long-term investment decision is also known as:
a) Working capital
b) Dividend decision
c) Capital budgeting
d) None of the above
(GU BCom 2022)Capital budgeting deals with:
a) Cash management
b) Management of working capital
c) Managing fixed assets
d) None of the above
(GU BCom 2022)Which is not a payback method?
a) Pay-off method
b) Payout method
c) Recoupment period method
d) None of the above
(GU BCom 2022)When should a project be accepted under Profitability Index (PI)?
a) When PI > 1.0
b) When PI < 1.0
c) When PI = 0
d) None of the above
(GU BCom 2022)Internal Rate of Return is the discount rate at which:
a) NPV > 0
b) NPV < 0
c) NPV = 0
d) None of the above
(GU BCom 2019, 2024)Capital budgeting is a part of:
a) Investment decision
b) Working capital management
c) Capital structure
d) Dividend decision
(GU BCom 2018)The Profitability Index or Benefit Cost Ratio is the relation between the present value of future net cash flow and the initial cash outlay. (True/False) (GU BCom 2018, 2024)
Profitability Index is the relationship between present value of cash inflows and the present value of cash outflows. (True/False) (GU BCom 2022)
When the Profitability Index exceeds one, the proposal is rejected. (True/False) (GU BCom 2017, 2024)
Capital budgeting decisions are generally of irreversible nature. (True/False) (GU BCom 2023)
The Accounting Rate of Return considers the time value of money. (True/False)
The Certainty Equivalent Approach adjusts cash flows for risk in capital budgeting. (True/False)
Section 2: 2-mark Questions
State the meaning of Net Present Value (NPV). (GU BCom 2014)
State the meaning of pay-back period. (GU BCom 2015)
What are the methods of capital budgeting? (GU BCom 2013)
Write two importances of capital budgeting. (GU BCom 2022)
State the meaning of accounting rate of return. (GU BCom 2016, 2018)
Define the Internal Rate of Return (IRR). (GU BCom 2024)
How is modern techniques of capital budgeting different from traditional techniques? (GU BCom 2017)
What is the purpose of cash flow estimation in capital budgeting?
What is meant by capital budgeting under risk?
Section 3: 5-mark Questions
Define net present value. How is it computed in a capital budgeting decision? (GU BCom 2015)
Discuss the use of Internal Rate of Return (IRR). (GU BCom 2015, 2018, 2024)
What is IRR method of capital budgeting? Mention two advantages and two limitations of this method. (GU BCom 2022)
Discuss the construction and use of profitability index. (GU BCom 2014)
Explain Profitability Index Method. (GU BCom 2017)
What is the significance of profitability index? How is it useful in projects having different sizes? (GU BCom 2013)
Explain the capital budgeting process. (GU BCom 2023)
Discuss the importance of cash flow estimation in capital budgeting decisions.
Explain the concept of the Risk-Adjusted Discount Rate in capital budgeting.
What is the Certainty Equivalent Approach, and how does it address risk in investment decisions?
Section 4: 10-mark Questions
Discuss the various methods followed in capital budgeting. (GU BCom 2016, 2018)
Discuss the modern method of capital budgeting. (GU BCom 2019, 2024)
Discuss the traditional methods of capital budgeting decisions. (GU BCom 2023)
Explain the method of evaluating capital budgeting decisions. (GU BCom 2017)
Discuss the investment evaluation criteria for investment decisions in financial management. (GU BCom 2016)
Give a critical analysis of Net Present Value (NPV) vs. Internal Rate of Return (IRR). (GU BCom 2016)
Explain the capital budgeting process and its significance in financial management.
Discuss how risk is incorporated into capital budgeting decisions using the Certainty Equivalent Approach and Risk-Adjusted Discount Rate.
Elaborate on the advantages and limitations of the Payback Period Method in investment decisions.
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Unit 3: Financing Decisions
Section 1: MCQs, True/False, Fill-in-the-Blanks (1 mark each)
Which of the following is a part of financial decision-making?
a) Financing decision
b) Dividend decision
c) Investment decision
d) All of the above
(GU BCom 2023)The overall cost of capital is also known as:
a) Marginal cost of capital
b) Variable cost of capital
c) Weighted average cost of capital
d) Specific cost of capital
(GU BCom 2022)"The financial leverage industries the effect on earnings created by the use of fixed-charge securities in the capitalization plan." The statement is:
a) True
b) Partially true
c) False
d) None of the above
(GU BCom 2014)The higher the degree of financial leverage (DFL), the greater is the financial risk associated and vice versa. (True/False) (GU BCom 2014, 2018)
Increased use of debt increases the financial risk of equity shareholders. (True/False) (GU BCom 2023)
Cost of preference share is:
a) Treated for tax
b) Not treated for tax
c) Only occasionally treated for tax
d) None of the above
(GU BCom 2024)Optimum capital structure refers to debt-equity mix where:
a) Debt is higher than equity
b) Equity is higher than debt
c) The cost of capital of the firm is minimum and the value of the firm is maximum
d) Equity and debt capital are of equal amount
(GU BCom 2018)"A firm is said to have high degree of operating leverage if it employs a greater amount of fixed cost and smaller amount of variable cost." This statement is:
a) True
b) False
(GU BCom 2017)Capital structure represents:
a) Ratio between different forms of capital
b) All liabilities
c) All assets
d) Assets and liabilities
(GU BCom 2022)Use of debt-capital to gain is known as:
a) Financial leverage
b) Operating leverage
c) Financial operating leverage
d) Position and operating ratio
(GU BCom 2018)A firm's cost of capital is the simple average cost of the various sources of finance. (True/False) (GU BCom 2018)
The Net Operating Income (NOI) approach assumes that the cost of capital remains constant regardless of leverage. (True/False)
The Modigliani-Miller hypothesis assumes no taxes in its basic proposition on capital structure. (True/False)
Section 2: 2-mark Questions
State two factors influencing capital structure. (GU BCom 2013)
What do you mean by financial leverage? (GU BCom 2013, 2015)
State the finance functions. (GU BCom 2014)
State the meaning of leverage. (GU BCom 2023)
What do you mean by a capital structure? (GU BCom 2022)
State the factors determining capital structure. (GU BCom 2014)
What is cost of capital? (GU BCom 2018)
Define 'Operating Leverage'. (GU BCom 2017, 2019)
What is meant by Weighted Average Cost of Capital (WACC)?
What is the significance of the cost of retained earnings?
Section 3: 5-mark Questions
What is the difference between capital structure and capitalization? (GU BCom 2013)
Write the significance of cost of capital. (GU BCom 2013)
Explain the significance and limitations of financial leverage. (GU BCom 2023)
Discuss EBIT-EPS analysis of capital structure. (GU BCom 2016)
Explain the factors determining the capital structure. (GU BCom 2016)
State the manner of computation of degree of financial leverage. (GU BCom 2016)
Write a note on Optimum Capital Structure. (GU BCom 2017)
Examine the difference between financial leverage and operating leverage. (GU BCom 2015)
Distinguish between financial leverage and operating leverage. (GU BCom 2019, 2024)
Explain the implication of fixed cost bearing securities on cost of capital of an entity. (GU BCom 2014)
Briefly explain the sources of long-term financing. (GU BCom 2022)
Discuss the importance of the Weighted Average Cost of Capital (WACC) in financing decisions.
Explain the assumptions of the Traditional Approach to capital structure.
Section 4: 10-mark Questions
State the meaning of Capital Asset Pricing Model (CAPM). (GU BCom 2014 - Modified to theoretical)
Explain the relationship between operating and financial leverage. (GU BCom 2016, 2018, 2022)
What is balanced capital structure? Why should a firm aim at a balanced capital structure? (GU BCom 2013)
Elaborate the determinants of capital structure of a corporate entity and the benefits of a balanced capital structure. (GU BCom 2015, 2024)
Describe any two theories of capital structure. (GU BCom 2016)
Explain the factors affecting capital structure of a firm. (GU BCom 2019)
Describe the determinants of the capital structure of a firm. (GU BCom 2023)
Discuss the Net Income (NI) and Net Operating Income (NOI) theories of capital structure.
Critically examine the Traditional Approach to capital structure and its implications.
Elaborate on the Modigliani and Miller (MM) hypothesis on capital structure and its assumptions.
Discuss the role of operating leverage and financial leverage in determining a firm’s risk profile.
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Unit 4: Dividend Decisions
Section 1: MCQs, True/False, Fill-in-the-Blanks (1 mark each)
The capitalization of profits process involves issuing:
a) Bond dividend
b) Cash dividend
c) Stock dividend
d) Property dividend
(GU BCom 2017)The objective of a good dividend policy is to:
a) Maximize the value of the firm
b) Minimize the amount to be ploughed back
c) Iron out the fluctuation in earning
d) Prevent speculation, overtrading and transfer of shares
(GU BCom 2014)According to the Modigliani and Miller hypothesis, the dividend policy of a firm is relevant, and affects the wealth of shareholders. (True/False) (GU BCom 2014, 2018)
Stable dividend means:
a) Constant dividend per share
b) The constant dividend payout ratio
c) Both (a) or (b)
d) None of these
(GU BCom 2019)The capitalization of profit is termed as:
a) Stock dividend
b) Cash dividend
c) Property dividend
d) Bond dividend
(GU BCom 2023)Payout ratio in dividend decision refers to:
a) Total earnings divided by number of shares outstanding
b) Dividend as a percentage of earnings
c) Profit after tax divided by market price per share
d) Market price per share divided by number of shares outstanding
(GU BCom 2018)When a company pays a dividend in the form of bonds, it is called property dividend. (True/False) (GU BCom 2019)
Stock dividend affects the liquidity position of the company. (True/False) (GU BCom 2022)
According to which model does dividend policy have no effect on the market price of the shares and value of the firm?
a) Walter’s model
b) MM model
c) Gordon’s model
d) None of the above
(GU BCom 2022)Stable dividend does not mean a fixed dividend payout ratio. (True/False) (GU BCom 2022)
Dividend policy is irrelevant under perfect market conditions according to the MM hypothesis. (True/False)
Section 2: 2-mark Questions
State the meaning of dividend. (GU BCom 2014, 2023)
What is stock-dividend? (GU BCom 2018)
What is bond dividend? (GU BCom 2022)
State the different types of dividend policy. (GU BCom 2013)
What does ploughing back of profit mean?
What is the relevance of dividend policy in corporate valuation?
Section 3: 5-mark Questions
What are the different types of dividend policies? (GU BCom 2022)
What is stock dividend? Why is it issued? (GU BCom 2019)
State the circumstances under which bonus shares are issued. (GU BCom 2024)
Explain the various forms of dividend. (GU BCom 2023)
Discuss the objectives and significance of a stable dividend policy.
Explain the concept of cash dividends and their impact on shareholders.
Section 4: 10-mark Questions
Discuss the factors which determine the dividend policy of a firm. (GU BCom 2013)
Elaborate the factors determining the dividend policy of a corporate entity. (GU BCom 2014, 2019)
State the various factors determining the dividend policy of a company. (GU BCom 2023)
What is dividend? Discuss the important factors which determine the dividend policy of a company. (GU BCom 2022)
Identify and discuss the factors affecting a firm’s dividend and retention of earning policy. (GU BCom 2017)
Financial management can use dividend policy to maximize the wealth of equity holders. Explain with suitable examples. (GU BCom 2017 - Modified to theoretical)
Explain the residual theory of dividend. (GU BCom 2015)
Critically examine the Modigliani and Miller approach on dividend. (GU BCom 2014)
Critically examine the Modigliani and Miller hypothesis of dividend decision. (GU BCom 2018, 2019)
Elaborate the Modigliani and Miller hypothesis of dividend decisions. Examine its validity. (GU BCom 2016, 2024)
Discuss the relevance and irrelevance theories of dividend policy in corporate valuation.
Explain how dividend policies are practiced in real-world scenarios and their impact on firm value.
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Unit 5: Working Capital Decisions
Section 1: MCQs, True/False, Fill-in-the-Blanks (1 mark each)
The working capital is:
a) The capital invested in the business to meet its day-to-day capital requirements
b) Circulating in nature
c) The excess of current assets over current liabilities
d) All of the above
(GU BCom 2014)Tandon Committee and Chore Committee recommendations related to:
a) Bank finance for working capital requirements
b) Guidelines from ministry of corporate affairs on working capital finance
c) SEBI guidelines for long-term capital finance
d) RBI direction on SLR and CRR
(GU BCom 2015)The net working capital is the excess of current assets over current liabilities. (True/False) (GU BCom 2018, 2024)
Working capital is also known as excess of current assets over current liabilities. (True/False) (GU BCom 2022)
The rate of return on investment falls with the shortage of working capital. (True/False) (GU BCom 2023)
Receivables constitute a significant portion of the fixed assets. (True/False) (GU BCom 2022)
The capital employed as working capital constantly changes its form to drive the 'business wheel', it is known as:
a) Gross working capital
b) Circulating capital
c) Operating working capital
d) Fluctuating working capital
(GU BCom 2015)The risk-return trade-off implies that higher working capital reduces risk but lowers profitability. (True/False)
Inventory management is a critical component of working capital decisions. (True/False)
Section 2: 2-mark Questions
State the meaning of net working capital. (GU BCom 2015)
What are the disadvantages of excessive working capital? (GU BCom 2013, 2014)
State the use of credit policy in determining working capital level. (GU BCom 2015)
State the use of credit policy in the context of working capital. (GU BCom 2016)
What is permanent working capital? (GU BCom 2019, 2022, 2023)
What is Special working capital? (GU BCom 2017)
What do you mean by cash management? (GU BCom 2022)
How is average collection period computed? (GU BCom 2018)
What are the objectives of receivable management? (GU BCom 2022)
What are the sources of short-term finance?
Section 3: 5-mark Questions
What are the factors that determine the needs of working capital? (GU BCom 2013)
Distinguish between gross working capital and net working capital. (GU BCom 2013, 2014, 2023)
Discuss the determinants of working capital. (GU BCom 2014)
What are the adverse effects of excessive working capital in a firm? (GU BCom 2017)
Discuss five leading determinants of working capital of a firm. (GU BCom 2018)
Discuss five factors determining working capital requirements. (GU BCom 2022)
Examine the importance of accounts receivable management. (GU BCom 2024)
Explain the concept of the risk-return trade-off in working capital management.
Discuss the role of inventory management in optimizing working capital.
Explain the significance of payables management in working capital decisions.
Section 4: 10-mark Questions
From the following information extracted from the books of Jagiroad Enterprise Ltd., compute the operating cycle in days in respect of working capital. (GU BCom 2016 - Modified to theoretical: Discuss the concept of operating cycle in working capital management)
Explain the factors determining the working capital requirements of a manufacturing entity. (GU BCom 2016)
Define working capital. What considerations are taken into account in estimating the amount of working capital requirement in a newly started company? (GU BCom 2017, 2024)
Explain the different techniques or methods used for estimating the working capital requirement. (GU BCom 2017)
What are the basic strategies of efficient cash management? Discuss the importance of cash budget as a tool of liquidity management. (GU BCom 2019)
Discuss the forecasting techniques of working capital requirement of a firm. (GU BCom 2019)
Discuss the disadvantages of excessive working capital and dangers of inadequate working capital encountered by a firm. (GU BCom 2022)
State the various factors determining the working capital requirements of a firm. (GU BCom 2023)
Elaborate the concept of hardcore working capital. How should it be financed? (GU BCom 2018)
Discuss the sources of short-term finance and their role in working capital management.
Explain the importance of cash management and receivables management in maintaining liquidity.
Discuss the strategies for effective inventory management and their impact on working capital efficiency.
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