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The lesson asks whether financial management is a science or an art, and gives a specific answer. Which conclusion does the lesson reach?
Answer & Solution
Correct answer: B.
1. The lesson dedicates a section to the science-versus-art question.
2. It concludes that financial management has both science and art aspects.
3. Where there is theory of systematic knowledge it is science.
4. Where there is application of value judgement and feel it is art.
5. Neither pure-science nor pure-art descriptions match the lesson's answer.
_Source: ICSI CS Executive Paper 8 (Financial and Strategic Management) — Lesson 1: Nature, Significance and Scope of Financial Management, pp. 6-20._
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