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Hi, for example 3 on chapter 16 – budgeting, the opening balance of 15000 was used for January, however, my lecturer used this exact question and he used this opening balance for November, which made his answer completely different from the one given in the notes and the videos. I am confused as to which answer is correct. Could you please help me with this.
I am surprised that your lecturer ‘stole’ our question 🙂 🙂
To be honest the question does not make it clear what month the opening cash balance refers to, and I must change it so as to make it clear.
Do not worry about it for the exam because an exam question will make it perfectly clear.
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