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Finance answer explanations

Review worked answers and explanations for Finance. Aligned to OCR Gcse Business.

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Finance

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Question 121 of 123

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a. Calculate A small independent bakery, 'The Daily Loaf', had an opening cash balance of £800 at the start of October. During October, their cash inflows were £2,500 from sales and £500 from a small loan. Their cash outflows for the month included £1,200 for ingredients, £900 for staff wages, and £300 for rent. Calculate 'The Daily Loaf's' closing cash balance for October. Show your workings. [4 marks] b. Explain Explain two reasons why 'The Daily Loaf' should regularly prepare cash flow forecasts, even if their current cash balance is healthy. [4 marks]

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