QUESTION 1

1. Investing activities usually involve the purchase or sale of long-term assets like land, buildings, equipment, etc. as well as the purchase or sale of long-term investments. All cash received or paid for these types of activities is reflected in the investing activities portion of the cash budget.

   True

   False

QUESTION 2

1. The Sales and Administrative Expenses budget must account for the timing of purchase payment. Whenever a vendor or supplier offers terms (i.e. payment at other than the time of purchase like net 30) the budget must take into consideration when purchases will actually be paid.

   True

   False

QUESTION 3

1. Goal seek was used to determine what cost of goods sold percentage yielded a specific ending cash balance.

   True

   False

QUESTION 4

1. Grouping was used to group the four quarters of data into one year and to group operating, investing, and financing activities together along with operating cash receipts, operating cash payments, revenues, and purchases.

   True or False

QUESTION 5

1. The present value function in Excel is written PV (rate, nper, pmt, fv,type). PV stands for present value. The arguments to that function are contained within the parentheses. The rate is the periodic interest rate, nper is the number of periods, pmt is the periodic annuity payment, fv is the lump sum future value, and type represents ordinary annuity or annuity due which basically indicates whether payments are made at the beginning or ending of the period in question.

   True

   False

QUESTION 6

1. The NPV function takes very similar arguments to the PV function you just described. It is written FV (rate, per, pmt, pv, type) where pv and type are optional.

   True

   False

QUESTION 7

1. The Min and Max functions built-in to Excel are used to help calculate the high and low costs in the Hi-Lo method of predicting costs.

   True

   False

QUESTION 8

1. The PMT function in Excel is written PMT (rate, nper, pv, [fv], [type]). The arguments to that function are contained within the parentheses. The rate is the periodic interest rate, nper is number of payments, pv is the lump sum present value, fv is the lump sum future value, and type represents ordinary annuity or annuity due which basically indicates whether payments are made at the beginning or ending of the period in question.

   True

   False

QUESTION 9

1. There is now a text box on the ribbon in Access 2016 that says Tell me what you want to do. This is a text field where you can enter words and phrases related to what you want to do next and quickly get to features you want to use or actions you want to perform. You can also choose to get help related to what you're looking for. There are now two Office themes that you can apply to the Access program: Colorful and White. To access these themes, go to File > Options > General, and then click the drop down menu next to Office Theme. Lastly, the default height of the Show Table dialog has been increased so you can easily see more table and query names in your database.

   True

   False

QUESTION 10

1. There are three basic components of the Ribbon. Tabs - There are several of them across the top. Each represents core tasks you do in Access. Groups - Each tab has groups that show related items together. Commands - A command is a button, a box to enter information, or a menu. The principal commands in Access are gathered on the second tab, the Home tab. The commands on this tab are those that Microsoft has identified as the most commonly used when people do basic tasks with databases.

   True

   False

QUESTION 11

1. Press the [F1] function key or click the blue and white question mark to open Access s help window.

   True

   False

QUESTION 12

1. The Query wizards asks 6 questions: what fields to you want on your report, do you want to add any grouping levels, what sort order do you want for your records?, how would you like to lay out your report, what style would you like, and what title do you want for your report?

   True

   False

QUESTION 13

1. In each query it is important to identify where the information can be found, what information is required, what criteria has been established, and how is the information reported.

   True

   False

QUESTION 14

1. The simple Report wizard asks two questions: What fields do you want in your query and what title do you want for your query.

   True

   False

QUESTION 15

1. There are 5 steps necessary to create a report:

   a. Identify which fields you want in your report and in what tables those fields are present.

   b. Specify grouping levels, if any.

   c. Specify sort order, if any.

   d. Specify a report layout.

   e. Specify a report style.

   True

   False

QUESTION 16

1. To delete a record from a table, open the table, and then click on the far left side of record (row) you want to delete. (This selects the record.) Right click in that record, and then click Delete Record from the short-cut menu which appears.

   True

   False

QUESTION 17

1. To add a validation rule to a field you must first view the table in design view, and then select the field you wish to add a validation rule. Type the specific validation rule in the validation rule text box and type any warning message youd like shown when the validation rule is violated.

   True

   False

5 points

1. The query wizard will ask you what queries and fields you want to include in a query and what level of summarization is required. The design view process provides you a design grid to enter various fields you would like to include in your query as well as what criteria or sorting schemes you d like to apply.

   True

   False

QUESTION 19

1. Wildcards are used in queries to allow the user to find such things as field values, records, or file names.

   True

   False

QUESTION 20

1. Once a report has groups assigned, those groups can be summarized in many ways including subtotals, grand totals, average etc.

   True

   False