<Li> "Financial management refers to the proper and efficient use of money and it plays a significant role in analyzing to invest in profitable business enterprise . Return on Investment must be greater than the invested amount ." </Li> <Li> "Financial management refers to the effective and efficient management of money and it is also process of planning, controlling, leading, directing of a firm's financial resources ." </Li> <Ul> <Li> Profit maximization happens when marginal cost is equal to marginal revenue . This is the main objective of Financial Management . </Li> <Li> Wealth maximization means maximization of shareholders' wealth . It is an advanced goal compared to profit maximization . </Li> <Li> Survival of company is an important consideration when the financial manager makes any financial decisions . One incorrect decision may lead company to be bankrupt . </Li> <Li> Maintaining proper cash flow is a short run objective of financial management . It is necessary for operations to pay the day - to - day expenses e.g. raw material, electricity bills, wages, rent etc . A good cash flow ensures the survival of company . </Li> <Li> Minimization on capital cost in financial management can help operations gain more profit . </Li> <Li> It is vague: - There are several types of profits before interest, depreciation and taxes, profit before taxes, profit after taxes, cash profit etc </Li> </Ul> <Li> Profit maximization happens when marginal cost is equal to marginal revenue . This is the main objective of Financial Management . </Li>

What is the main objective of financial management
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