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1. In the case study example, why is the initial Closing Payables balance highlighted in speckled blue (pictured)?
It is to highlight a row total should not be included here
It is to highlight the formula is different in this cell from the rest of the row
This is to highlight that this cell is deliberately blank as the Closing Payables balance has already been used for the COGS control account. Putting this balance in here again would cause a double-count and a misbalance on the Balance Sheet
2. How many calculations need to be entered into the financial statements to make the Balance Sheet balance for Operating Expenditure?
3. Which of the following three line items in the Operating Expenditure control account is the key driver?
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