These are the monthly cash flow figures for a business.
– Opening balance £555 000 Cash inflow £784 000 Cash outflow £872 000
What is the closing balance for the business at the end of the month?
Select ONE answer:
- -£88,000
- £229,000
- £467,000
- £1,339,000
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 3 – Opening £555k + £784k inflow = £1,339k then minus cash outflow of £872k finally equals closing balance of -£33k.
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