Income Flashcards
1
Q
what is Total Inflows/ Total Income?
A
All inflows/ income added together for that month
2
Q
what is Total Outflows/ Total Expenditure?
A
All outflows/ expenditure added together for that month
3
Q
what is Net Cash Flow?
A
Total inflows/income – Total outflows/expenditure
4
Q
what is Opening Balance?
A
last month’s closing balance
5
Q
what is Closing Balance?
A
Opening Balance + Net Cash Flow
