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

Step 1: Apply the general planning cycle - goal first, so Objective (D) is step one.
Step 2: Assess the current situation before deciding, so Analysis (B) is step two.
Step 3: With goal and analysis in hand, Decision making (A) follows, then Action (C) implements it.
Step 4: The correct order is (D), (B), (A), (C) (Option 1).