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:
- -£22,000
- -£7,000
- £2,000
- £17,000
Show the workings to arrive at your answer, and explain and justify your reasons:
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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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