Chris runs a business as a conference organiser and in the period ran a major conference which earned fees of £60000 of which £55000 was received in advance. Of the remaining £5000 all except £400 is collectable. He paid out £12000 on account for venue hire and still owes £2000. In addition he owes £900 for catering and also owes money for internet charges which he estimates to be around £600 although the bill for this has yet to be received.
-What was the net cash flow of Chris's business for the period?
A) £8000
B) £18000
C) £13000
D) £7100
E) £6500

Question

Chris runs a business as a conference organiser and in the period ran a major conference which earned fees of £60000 of which £55000 was received in advance. Of the remaining £5000 all except £400 is collectable. He paid out £12000 on account for venue hire and still owes £2000. In addition he owes £900 for catering and also owes money for internet charges which he estimates to be around £600 although the bill for this has yet to be received. 
-What was the net cash flow of Chris's business for the period?
A) £8000
B) £18000
C) £13000
D) £7100
E) £6500

Quizplus · Accepted Answer

The Answer of Chris runs a business as a conference organiser and in the period ran a major conference which earned fees of £60000 of which £55000 was received in advance. Of the remaining £5000 all except £400 is collectable. He paid out £12000 on account for venue hire and still owes £2000. In addition he owes £900 for catering and also owes money for internet charges which he estimates to be around £600 although the bill for this has yet to be received. 
-What was the net cash flow of Chris's business for the period?
A) £8000
B) £18000
C) £13000
D) £7100
E) £6500

Chris Runs a Business as a Conference Organiser and in the Period