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SingaporeElements of Business SkillsQuick questions
Money and Financial Records
Quick questions on Keeping a cash record: N-Level Elements of Business Skills
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the running balance?Show answer
The balance is how much cash the business has at that point. You work it out as you go:
What is a simple cash record?Show answer
Here is a simple cash record for one week. Notice the balance is updated after each entry, and a negative balance is shown in brackets.
What is not updating the balance after each entry?Show answer
The running balance must change after every money in and money out.
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