Learn: Opening and Closing Balances
AQA GCSE Business 8132
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Match the items on the left with their correct pairs on the right
Match the items on the left with their correct pairs on the right
What is an opening balance?
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Match the items on the left with their correct pairs on the right
The closing balance for one period becomes the {{blank0}} for the next period. To calculate the closing balance, you add the opening balance to the {{blank1}}.
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Why is a positive closing balance important for a business?
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If a business starts with an opening balance of £500 and has cash inflows of £1,200 and cash outflows of £800, what is the closing balance?
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Match the items on the left with their correct pairs on the right
Which of the following are true about closing balances? (Select all that apply)
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