Financial Management Flashcards

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1
Q

6 steps in the Financial Planning process?

A

1, Establish client-planner engagement

  1. Establish objectives and gather data
  2. Clarify present status and identify problems and opportunities
  3. Identify appropriate strategies and present plan
  4. Implement the plan
  5. Monitor and update
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2
Q

Statement of financial position

A

Net Worth = Assets - liabilities

Equity Ratio = (assets-liabilities) / Assets

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3
Q

What are voting retractable shares

A

Retractable preferred shares are a specific type of preferred stock that lets the owner sell the share back to the issuer at a set price.

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