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Financial Management and Planning

CBSE · Class 11 · Home Science

NCERT Solutions for Financial Management and Planning — CBSE Class 11 Home Science.

72 questions90 flashcards5 concepts

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20 Questions Solved · 3 Sections

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REVIEW EXERCISE

1(i)Budget is the first step in money management.Show solution
The chapter says that budget is the most common planning device for the use of money and that it represents the first step in the managerial process as applied to money. So the statement is True.

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1(ii)Money serves as a medium of exchange of commodities.Show solution
The chapter states that money serves as a medium of exchange. Therefore the statement is True.

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1(iii)Profits from business and gifts are a form of income.Show solution
The chapter lists profits from business and gifts under forms of income. So the statement is True.

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1(iv)One should first estimate the cost and then list the commodities and
services needed while making the budget.Show solution
While making a budget, the chapter says to list the commodities and services needed first, and then estimate the cost. So the statement is False.

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1(v)Savings in physical assets are productive in economic terms.Show solution
The chapter says that savings in physical assets are not productive in the economic sense of the term and do not result in capital formation. So the statement is False.

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1(vi)The trend in business cycle is an important consideration under the principal of safety.Show solution
Under the principle of safety of the principal amount, the chapter says to consider the prevailing phase of business cycle. So the statement is True.

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1(vii)The time period may be ignored while considering and deciding on an investment.Show solution
The chapter clearly says the time period is a critical aspect to be considered before deciding on an investment. So it cannot be ignored. The statement is False.

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1(viii)The 4 C's of credit are character, capacity, capital and collateralShow solution
The chapter defines the 4 Cs of credit as character, capacity, capital and collateral. So the statement is True.

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1(ix)Nature of enterprise is not an important safety consideration.Show solution
The chapter lists the nature of enterprise as one of the safety considerations, so it is important. Therefore the statement is False.

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2(i)What do you understand by 'management of finances'?Show solution
Management of finances means planning, controlling and evaluating the use of all types of income so that the family gets the greatest satisfaction from its resources. In simple words, it is the proper use of money and other family resources to meet present needs and future goals.

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2(ii)Discuss the different types of income.
2(iii)Discuss the steps in making a budget.
2(iv)What are the controls that can be exercised in money management?
2(v)Discuss the principles underlying sound investments.

REVIEW QUESTIONS

(i)What do you understand by 'management of finances'?
(ii)Discuss the different types of income.
(iii)Discuss the steps in making a budget.
(iv)What are the controls that can be exercised in money management?
(v)Discuss the principles underlying sound investments.

PRACTICAL 16

1Plan a budget for any festival celebrated in your school. One example under each heading is given.

10 more solved questions in Financial Management and Planning

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Frequently Asked Questions

What are the important topics in Financial Management and Planning for CBSE Class 11 Home Science?
Key topics in Financial Management and Planning include Financial Management and Planning — Chapter Overview, Financial Management and Planning — Chapter Overview, Financial Management and Planning — Chapter Overview. These are the concepts CBSE Class 11 examiners draw on most — study them first, then practise related questions.
How to score full marks in Financial Management and Planning — CBSE Class 11 Home Science?
Understand the core concepts first, then work through the 72 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
Where can I get free NCERT Solutions for Financial Management and Planning Class 11 Home Science?
This page has free step-by-step NCERT Solutions for every exercise question in Financial Management and Planning (CBSE Class 11 Home Science) — written the way examiners award marks: given, formula, working, answer.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All 11 chapters — CBSE Class 11 Home Science NCERT Solutions

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