Sorry's not gonna cut it

A: Seriously, you got to get here on time.
B: I got held up. I’m sorry.
A: No, sorry’s not gonna cut it. You’re assistant manager.

Question: What does “cut” mean in this sentence?

Thank you!!!

When something doesn’t “cut it”, it means its not enough or insufficient.

Person A: Can you lend me $100?
Person B: No, but I can lend you $60.
Person A: No that won’t cut it, I need 100


That is not going to cut it. = That is not satisfactory.

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