Which of the following should not be considered into financial planning?Select one:a.Personal cell phoneb.Marketingc.Professional feesd.Salaries
Question
Which of the following should not be considered into financial planning?
Select one:
- a. Personal cell phone
- b. Marketing
- c. Professional fees
- d. Salaries
Solution
When considering financial planning, it's essential to distinguish between personal expenses and business-related expenses. Here's a breakdown of the options provided:
-
Personal Cell Phone: This expense is typically personal unless it is an essential business tool that the company pays for, in which case it may be a valid expense.
-
Marketing: This is a crucial aspect of financial planning for any business as it helps to promote the business and drive sales.
-
Professional Fees: These often include necessary expenses related to legal, consulting, or accounting services, which are essential for business operations.
-
Salaries: Salaries are a significant expense and must be included in financial planning since they constitute the compensation of employees who contribute to the business.
Conclusion
Given the context of financial planning, a. Personal cell phone should not be considered in a business financial plan unless it is specifically tied to business activities.
Final Answer
a. Personal cell phone
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