a) A firm trading in biscuits need relatively less working capital as it requires the processing time for sales can be effected immediately and hence less working capital need be maintained.
(b) Steel pipes have a long manufacturing process is conversion time from raw materials to furnished products is long. Hence more working capital is required.
(c ) Ice-creams are seasonal products . They are demanded more during summer season. Hence more working capital is required in such firm only during summer months.
(d) A firm following a liberal credit policy has higher investment in debtors and hence requires more working capital

a) Firm should choose a capital structure which is more based on debt.
b) As the firm faces threat of takeover equity Bhares are totally unsuitable as they will dilute the owner’s inter in the business. Further where equity shares are issued the bigger concern right purchase its share and acquire greater stake in the business and ultimately take over the enterprise.

It is concerned with optimal procurement as well as usage of funds.It aims to reduce the cost of funds, achieve keep the risks under control and achieve effective deployment of funds.Financial management plays a vital role in an organisation.

The main and foremost objective of financial management is to maximise the wealth of equity shareholders.The financial manager of a company takes this decision because the shareholders are the owners of the company.

Financial decisions taken will determine the manner in which the funds are invested.The return earned on investment will determine the value and price of the shares.The market price of the shares will increase if the benefit from the decision has exceeded its cost.

Secondly, the objective of increase in value of equity shares automatically fulfils many other objectives like increasing the profitability, maintaining liquidity, effective utilisation of funds and providing for growth of the company. 

Dividend decision relates to how much of the company's net profit is to be distributed to the shareholders and how much of it should be retained in the business for meeting the investment requirements.
This decision should be taken, keeping in view the overall objective of maximising shareholders, wealth.
Stability of Dividends
Generally, companies try to stabilise dividends per share.A steady dividend is given each year A change is only made if the company's  earning potential has gone up and not just earnings of the current year.
Shareholders' preference
While declaring dividends, management must keep in mind the preferences of the shareholders.Some shareholders in general desire that atleast a certain amount is paid as dividend.The companies should consider the preferences of such shareholders.
Legal constraints
Certain provisions of the companies act, place restrictions on payouts as dividend.Such provisions must be adhered to, while declaring the dividend.
Access to capital market
Large and reputed companies generally have easy access to the capital market and, therefore, may depend less on retained earnings to finance their growth.These companies tend to pay higher dividends than the smaller companies
Stability of Earnings
A company having higher and stable earnings can declare higher dividends than a company with lower and unstable earnings.
Growth Opportunities
Companies having good growth opportunities retain more money out of their earnings so as to finance the required investment.The dividend declared in growth companies is, therefore, our flow smaller than that in the non-growth companies. 
Cash Flow position
Dividend involves an outflow of cash.Availability of enough cash is necessary for payment or declaration of dividends.
Taxation of policy
If the tax on the dividends is higher, is is better to pay less by way of dividentd.But if the tax rates are lower, higher dividends may be declared. This is because as per the current taxation policy, a dividend distributions tax is levied on companies.However, dividends shareholders prefer dividends, as dividends are tax free in the hands of shareholders
Amount of Earnings
Dividends are paid out of current and past earnings.Thus, earnings is a  major determinant of dividend decision
Stock Market reaction
Generally, an increase in dividends has a positive impact on stock market, whereas, a decrease or no increase may have a negative impact on stock market.Thus, while deciding on dividends, this should be kept in mind.
Contractual Constraints
While granting loans to a company, sometimes, the lender may impose certain restrictions on the payments of dividends in future.The companies are required that the dividend payout does not violate the terms of the loan agreement  in this regard.

I) Safety
ii) Identify the value which is being emphasized when company declares dividend as per the provisions of the Companies Act.

Fixed Capital : i) Capital invested in fixed assets such as building, machinery etc.
ii) Fixed assets have a long life and are not meant for resale.
iii) Basic objective is to provide infrastructure or production capacity for the manufacture of furnished goods.
Working capital :
i) It is invested in floating assets i.e. stock debtors.
ii) Floating assets are for short term and these can be converted into cash quickly.
iii) It’s aim is to meet day to day expenses of production process.

The activity which involves preparation of financial blue print of an enterprises future operation is financial planning Advantages :-
1 It ensures availability of funds to a firm whenever it requires it.
2. To ensure that the firm does not raise resources unnecessarily or waste financial resources.

The types decision is financing decision. Two vital factors to be kept in mind white taking such decision are :-
1. The cost of raising such funds.
2. Risk associated with deferent course – debt capital are generally considered more riskily. 

Electronic & computer industry are industries which require constant technological up gradation . The assets in such industries become obsolete very quickly and require constant replacement hence they require greates fixed capital investment. Furniture industry does not face danger of technological upgradation and hence they require less investment in fixed assets.