What does the term "Value for Money" mean in public sector financial management

What does the term "Value for Money" mean in public sector financial management

What does the term "Value for Money" mean in public sector financial management?

    A) Getting the best possible outcomes from public spending

    B) Minimizing costs at all costs

    C) Maximizing revenue

    D) Spending public funds without restrictions

    Answer: A

    Explanation: Value for Money (VfM) refers to securing the best possible combination of quality and effectiveness for the least cost.