State whether the following statements are true or false with brief reasons: Subtracting total cash required from opening cash balance yields the cash position before borrowings and inflows from savings.

False. Subtracting total cash required from the opening cash balance would yield the *deficit* or *surplus* of cash before considering any financing activities like borrowings or inflows from savings. The statement implies that this calculation directly gives the 'cash position before borrowings and inflows from savings', which is misleading. The cash position is typically the net result of all cash inflows and outflows, including operating, investing, and financing activities. The calculation described is a step in determining the *need* for financing, not the final cash position itself. The correct statement would be that subtracting total cash required from total cash available (including opening balance) yields the cash position before borrowings and inflows from savings.