Question

Arrange the steps in the process of farm financial management from beginning to end:
(A). Decision making
(B). Analysis
(C). Action
(D). Objective
Choose the correct answer from the options given below:

• A. (D), (B), (A), (C)
• B. (D), (A), (C), (B)
• C. (A), (D), (B), (C)
• D. (B), (A), (D), (C)

Hint:

Financial management is a cyclical process: Set goals, analyze, decide, act, and then review and adjust.

Answer 1

The Correct Option is A

Effective farm financial management follows a systematic process: First, define clear financial objectives (D). Then, analyze the current financial situation and available resources (B). Based on the analysis, make informed financial decisions (A). Finally, implement the chosen actions and monitor their effectiveness (C).