Question Completion Status:

QUESTION 1

1. When using a VLookup formula to automatically look up an account in the chart of accounts

		The column index field will always be 2
		The first column in the table array needs to be in numerical or alphabetical order
		The results will either be returned as true or false
		The second column in the table range must contain a sum formula

5 points

QUESTION 2

1. When creating a spreadsheet for an income statement if the cell contain #### this means

		the cell needs to be adjusted
		that you have arrived at the correct solution
		that you have arrived at the incorrect solution
		the data is corrupt and you would need to input it again

5 points

QUESTION 3

1. Using spreadsheet software to communicate operating activities for a business to the users of financial statements can be done by preparing a(n)

		Amortization schedule
		Depreciation schedule
		Income statement
		Payroll register

5 points

QUESTION 4

1. When preparing an depreciation schedule using spreadsheet software, you would need to identify the following except:

		Estimated life of the asset
		Estimated salvage value
		Historical cost
		Market value

5 points

QUESTION 5

1. When preparing a horizontal analysis, using spreadsheet software, you must present this in

		Portrait view
		Landscape view
		Freeze the titles on the left side
		The type of analysis performed does not determine the view in all cases

5 points

QUESTION 6

1. When writing a report based on ratio analysis from spreadsheet software, how would you structure the report?

		Provide general overall observations of the ratios in no more than two sentences
		Provide the ratios only and no narrative, that is up to management to provide and interpret
		Provide the ratios and a narrative describing any relationship between ratios
		Provide the formulas only for the ratios so management can calculate their own ratios to ensure they are accurate.

5 points

QUESTION 7

1. Charts in spreadsheet software are used in presenting accounting data

		More accurately than presenting numbers on the spreadsheet
		For up to 10 worksheets of data all at one time
		In a visual format
		To show the demonstrate the features of spreadsheet software

5 points

QUESTION 8

1. One of the advantages of using spreadsheet software is that

		Calculations can be performed quickly
		Checks can be ordered online quickly
		Journals are automatically posted to ledger accounts by clicking n the post entries tab
		There are no scroll bars that make the data difficult to read

5 points

QUESTION 9

1. When creating reports for management that are used to decide among different alternatives using spreadsheet software, the best formula to use would be

		Sum
		If
		Average
		Minimum and Maximum

5 points

QUESTION 10

1. If you needed to create a journal entry to determine the amount of interest owed on a loan and needed to take 100 divided by 2 then add 25 using spreadsheet software, such as Excel, how would you write the formula?

		@sum100/2 (25)
		+100/2+25
		=(100)(2)+25
		=(100/2)+25

5 points

QUESTION 11

1. From an ethical standpoint, it would be acceptable to use a spreadsheets what-if analysis function for

		Determining what FICA tax rate should be paid to employees so that their taxable income is reduced by 15%
		Determining what income level to report to the IRS to lower your taxes
		Determining what income level to report to the SEC so that earning per share meets investor expectations
		Determining the optimal selling price for a companys product

5 points