ACG 2062-If you want to take 100 divided by 2 then add the 25

Question 1

1. If you want to take 100 divided by 2 then add the 25 using spreadsheet software, such as Excel, how would you write the formula?
2. @sum100/2 (25)
3. +100/2+25
4. =(100)(2)+25
5. =25+100/2
6. 
   

5 points

Question 2

1. When creating a spreadsheet formula in Excel the $ in front of the letter and number (ex. $A$4) in the cell address means that
2. The answer will always be shown in the same cell address such as A4 even if a new file is opened
3. The answer will be shown in a cell that is at least as wide as the specified number in the formula such as 4
4. The answer will be shown with a dollar sign such as $100
5. The cell remains constant even if the formula is copied to another location
6. 
   

5 points

Question 3

1. One of the advantages of using spreadsheet software is that
2. Calculations can be performed quickly
3. Checks can be ordered online quickly
4. Journals are automatically posted to ledger accounts by clicking n the post entries tab
5. There are no scroll bars that make the data difficult to read
6. 
   

5 points

Question 4

1. Using spreadsheet software how would you correct an error you discovered where you keyed in the amount of $10,000 and the amount should have been for $1,000 but you have already used that cell address with the incorrect number in another calculation
2. Disregard it, it will be automatically corrected in the calculation when the number is corrected
3. Retype the formula that referenced the cell address
4. Take out the formula that referenced the cell and type in the number
5. Disregard it but write a memo to the owner regarding the situation
6. 
   

5 points

Question 5

1. Spreadsheet software can be used to communicate financing, investing and operating activities for a business. Which statement would contain this information?
2. Balance Sheet
3. Income Statement
4. Statement of Cash Flows
5. Statement of Retained Earnings
6. 
   

5 points

Question 6

1. When creating deciding among different alternative using spreadsheet software, the best formula to use would be
2. Sum
3. If
4. Average
5. Minimum and Maximum
6. 
   

5 points

Question 7

1. A pivot table can be used to
2. Organize large amounts of data
3. Remove data from files automatically
4. Shift the view of a document by rotating it left to right
5. Show small amounts of data aligned to the center of the document
6. 
   

5 points

Question 8

1. When using a Vlookup formula
2. The column index field will always be 2
3. The first column in the table array needs to be in numerical or alphabetical order
4. The results will either be returned as true or false
5. The second column in the table range must contain a sum formula
6. 
   

5 points

Question 9

1. Using spreadsheet software to communicate operating activities for a business to the users of financial statements can be done by preparing a(n)
2. Amortization schedule
3. Depreciation schedule
4. Income statement
5. Payroll register
6. 
   

5 points

Question 10

1. Spreadsheet software can be used to determine the amount of simple interest owed on a 30 day note. What mathematical operations would be used?
2. addition and subtraction
3. multiplication and division
4. addition and division
5. multiplication and subtraction
6. 
   

5 points

Question 11

1. When creating a spreadsheet if the cell contain #### this means
2. the cell needs to be adjusted
3. that you have arrived at the correct solution
4. that you have arrived at the incorrect solution
5. the data is corrupt and you would need to input it again
6. 
   

5 points

Question 12

1. When preparing an depreciation schedule using spreadsheet software, you would need to identify the following except:
2. Estimated life of the asset
3. Estimated salvage value
4. Historical cost
5. Market value
6. 
   

5 points

Question 13

1. When preparing a horizontal analysis, using software, the percentage of change for land would be calculated using a formula?
2. Dividing land by total assets
3. Dividing current and past years' land cost
4. Multiplying current year market value and total assets
5. Adding past years and depreciation on the land
6. 
   

5 points

Question 14

1. When preparing an payroll register using spreadsheet software, you would need to identify the following except:
2. Hours worked
3. Withholding tax amount
4. Last year's payroll expense
5. FICA tax rate
6. 
   

5 points

Question 15

1. A footer would be placed on a spreadsheet document _____to communicate additional information to the reader
2. At the bottom of the page
3. At the top of the page
4. On the right side of the page
5. On the left side of the page
6. 
   

5 points

Question 16

1. When preparing a horizontal analysis, using spreadsheet software, you must present this in
2. Portrait view
3. Landscape view
4. Freeze the titles on the left side
5. The type of analysis performed does not determine the view in all cases
6. 
   

5 points

Question 17

1. Charts in spreadsheet software are used in presenting accounting data
2. More accurately than presenting numbers on the spreadsheet
3. For up to 10 worksheets of data all at one time
4. In a visual format
5. To show the demonstrate the features of spreadsheet software
6. 
   

5 points

Question 18

1. When writing a report based on ratio analysis from spreadsheet software, how would you structure the report?
2. Provide general overall observations of the ratios in no more than two sentences
3. Provide the ratios only and no narrative, that is up to management to provide and interpret
4. Provide the ratios and a narrative describing any relationship between ratios
5. Provide the formulas only for the ratios so management can calculate their own ratios to ensure they are accurate.
6. 
   

5 points

Question 19

1. From an ethical standpoint, it would be acceptable to use a spreadsheet’s what-if analysis function for
2. Determining what FICA tax rate should be paid to employees so that their taxable income is reduced by 15%
3. Determining what income level to report to the IRS to lower your taxes
4. Determining what income level to report to the SEC so that earning per share meets investor expectations
5. Determining the optimal selling price for a company’s product
6. 
   

5 points

Question 20

1. You made an error in a spreadsheet formula. You know your spreadsheet will be the basis for an important business decision. Ethically, you should:
2. Disclose the error and take full responsibility as soon as possible.
3. Disclose the error but blame an employee who has since left your company.
4. Seek other employment without disclosing the error.
5. Wait until the decision has been made since you believe your flawed analysis supports the correct viewpoint.