CIS 105 - 1.14

Opening Balance of February is not equal to closing balance of January. Is this possible?

• Yes

• No

Looking at the opening balance, total inflow, and total outflow of January, is the closing balance correct?

• Yes

• No

Looking at the opening balance, total inflow and outflow of January, what should the formula for the closing balance in January be?

(a)  

The closing balance for March equals the total outflow. This is possible, but is the formula for total outflow correct?

• No, the correct formula is =D24

• No, the correct formula is =E10-E22

• Yes, the correct formula is =SUM(E13:E21)

• Yes, the correct formula is =SUM(E6:E8)

There is no opening balance for April. What should be the value there?

• $3,412.50

• $2,750.00

• $1,152.50

• $1,375.00

What should be the formula for Opening Balance of April?

(a)  

Are all entries of money outflow included in total outflow for May?

• No, cell G21 is not included in the sum.

• Yes, all cells are included in the sum.

• No, cell G21 and G24 are not included in the sum.

The total inflow for October is negative. Can the total inflow be negative?

• Yes, the inflow can be negative because it was negative in the previous month.

• Yes, the inflow can be negative because the closing balance has been negative for months.

• No, the opening balance is added into the calculation of the total inflow.

Would vacation be categorized in inflow or outflow?

• Inflow

• Outflow