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1. What is the difference between Opening Retained Profits and Net Profit After Tax?
Opening Retained Profits doesn’t include profits in the current period and include the impact of dividends, whereas Net Profit After Tax looks at the current period only and is before any dividends are paid.
No difference – they are the same thing
Opening Retained Profits doesn’t include profits in the current period, whereas Net Profit After Tax looks at the current period only, but they are both calculated before any dividends are paid
2. When we link the Cash item to our Opening Balance sheet, which of the following should we choose?
It doesn’t need to be linked to the Opening Balance Sheet
The populated cells in the Opening Balance Sheet where we copied the inputs to before we deleted the original ones
The blank cells in the Opening Balance Sheet where the inputs used to be before we deleted them
3. At this point in the model, what is the value for our Cash item in the first period of our Balance Sheet?
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