Business Studies Multiple Choice Question – 23 September 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

These are the monthly cash flow figures for a business.

– Opening balance  £15 000   Cash inflow £24 000   Cash outflow £22 000

What is the closing balance for the business at the end of the month?

 

Select ONE answer:

  1. -£22,000
  2. -£7,000
  3. £2,000
  4. £17,000

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes
The answer is 4 – Opening £15k + £24k inflow = £39k then minus cash outflow of £4k finally equals closing balance of £17k.

 

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