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1. Which of the following is not a way we have covered to link the financial statements?
None of the above
Creating an opening balance, movements and closing balance
Building a single formula so that it incorporates last period’s value and the current period’s movement
2. Which of the following is not a reason to remove the ‘Balance Sheet’ reference from our links inside the Balance Sheet?
It’s easier to read without the extra bits
It reduces the risk of errors when the sheet is copied
It causes the formula to work incorrectly
3. How can we get the Balance Sheet to balance after we calculate our retained profits?
Ignore the errors and continue building the model
Copy out the inputs from the Opening Balance Sheet and delete the original contents
Delete the inputs from the Opening Balance Sheet
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