ORIGIN OF FINANCE:
WORD:
The word finance was originally a French word. In the 18th century, it was adapted by English speaking communities to mean “the management of money.”
Definition of 'Finance'
The science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public, private and government spaces, and the study of finance and financial instruments, which can relate to countless assets and liabilities
SOME OTHER DEFINITIONS MAY INCLUDES:
- In General sense,
"Finance is the management of money and other valuables, which can be easily converted into cash."
- According to Experts,
"Finance is a simple task of providing the necessary funds (money) required by the business of entities like companies, firms, individuals and others on the terms that are most favorable to achieve their economic objectives."
- According to Entrepreneurs,
"Finance is concerned with cash. It is so, since, every business transaction involves cash directly or indirectly."
- According to Academicians,
"Finance is the procurement (to get, obtain) of funds and effective (properly planned) utilization of funds. It also deals with profits that adequately compensate for the cost and risks borne by the business."
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