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Cash and equivalents fell by 7,000 during the year to a closing balance of 18,000. What was the opening balance?
A11,000
B18,000
C25,000
D32,000
Answer & Solution
Correct answer: C. 25,000
Closing equals opening minus the 7,000 decrease, so opening was 18,000 + 7,000 = 25,000.
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