Day: August 31, 2022

A businessman starts trading with a bank balance of £124 000.

The budget for the first three months shows the following:

What is the budgeted opening bank balance at the start of month 3?

Select ONE answer:

1. £123 000
2. £158 000
3. £164 000
4. £189 000

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct – £124k + £30k + £40k – £12k – £13k + £20k

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