I’m stuck on a Accounting question and need an explanation.
Answer the following IN YOUR OWN WORDS. Respond to each of the following in a minimum of 175 words. It will be ran thru a plagiarism checker, thanks.
Unfortunately, most firms lack liquidity. To make sure there is sufficient cash flow to meet day-to-day financial needs, financial managers adopt short-term financing methods to raise needed capital to meet debt obligations in time while maximizing profitability through investment with cash surpluses. Respond to the following in a minimum of 175 words:
1.Discuss a management strategy used to retain or increase cash
2.Share an example of a time when you’ve used a similar strategy in your personal finances.
3.How are the applications of these strategies similar or different for businesses and individuals?