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What is the closing balance for the business at the end of the month? Select one answer - Edexcel - GCSE Business - Question 1 - 2016 - Paper 1
Question 1
What is the closing balance for the business at the end of the month? Select one answer. A =£14 000. B =£4 000. C =£24 000. D £38 000.
Worked Solution & Example Answer:What is the closing balance for the business at the end of the month? Select one answer - Edexcel - GCSE Business - Question 1 - 2016 - Paper 1
Step 1
Select one answer.
Answer
To determine the closing balance for the business at the end of the month, we should analyze the available options carefully. Among the options given:
- A = £14,000
- B = £4,000
- C = £24,000
- D = £38,000
The correct closing balance should reflect a logical calculation based on the business's transactions throughout the month. According to the marking scheme, the correct answer is B = £4,000.