Module #4
You can double-click a cell with a formula and Excel will use Formula Seek to highlight the cells that provide data for the formula. Answers: True False
True
An alternative to a one-input data table is a three-input data table. Answers: True False
False
Excel is case sensitive with respect to names of cells. Answers: True False
False
In a data table, the formula(s) you are analyzing must include a cell reference to the output cell. Answers: True False
False
Spreadsheet specialists usually format a worksheet before they enter any data. Answers: True False
False
The PMT function has two arguments: rate and payment. Answers: True False
False
The print options available on the Margins tab in the Page Setup dialog box pertain to the way the worksheet will appear in the printed copy or when previewed. Answers: True False
False
You can add only a maximum of five conditional formats to a range. Answers: True False
False
You can use the ROUND function to determine how much the borrower of a loan still owes at the end of each year. Answers: True False
False
You cannot use column and row titles within formulas when you want to refer to the related data by name. Answers: True False
False
A(n) index is a series of fixed payments made at the end of each of a fixed number of periods at a fixed interest rate. _________________________ Answers: True False
False; annuity
spell checker, examines the formula in a workbook in a manner similar to the way, the spellchecker examines a workbook for misspelled words. ________________________________
False; formula
Data tables have multiple purpose(s). _________________________ Answers: True False
False; one
Modified Multiple Choice You can name a range by ____. Answers: a. selecting a cell or range, typing the name in the formula bar, and pressing the ENTER key b. selecting a cell or range, clicking the Define Name button (FORMULAS tab | Define Names group)
Selected Answers: a. selecting a cell or range, typing the name in the formula bar, and pressing the ENTER key b. selecting a cell or range, clicking the Define Name button (FORMULAS tab | Define Names group)
A cell name often is created from column and row titles. Answers: True False
True
A column border is an unused column with a significantly reduced width. Answers: True False
True
An amortization schedule summarizes loan information over the life of the loan. Answers: True False
True
Assigning names to a cell or range of cells allows you to select them quickly. Answers: True False
True
Data tables have one purpose: to organize the answers to what-if questions. Answers: True False
True
Excel automatically selects the Left column check box in the Create Names from Selection dialog box in order to determine which option to select automatically. Answers: True False
True
If you enter a formula using Point mode and click a cell that has an assigned name, then Excel will insert the name of the cell rather than the cell reference. Answers: True False
True
Once you set a print area, Excel will continue to print the specified range, rather than the entire worksheet. Answers: True False
True
Smart worksheet design starts with visualizing the results you need. _________________________ Answers: True False
True
The FV function returns the future value of an investment based on periodic, constant payments and a constant interest rate. Answers: True False
True
The best alternative to define the formulas in a data table involves using the cell references preceded by an equal sign. Answers: True False
True
To include additional formulas in a one-input data table, enter them in adjacent cells in the same row as the current formulas and then define the entire new range as a data table. Answers: True False
True
Two of the more powerful aspects of Excel are its wide array of functions and its capability of organizing answers to what-if questions. Answers: True False
True
When Range Finder is active, you can drag the outlines from one cell to another cell to change the cells referenced in the formula, provided the cells have not been named. Answers: True False
True
When a cell is formatted for a percent, if you enter the number .5 Excel translates the value as 50%. Answers: True False
True
When you format a cell to display percentages, Excel assumes that whatever you enter into that cell in the future will be a percentage. Answers: True False
True
You can define descriptive names that are not column titles or row titles to represent cells, ranges of cells, formulas, or constants. _________________________ Answers: True False
True
Which of the following is the path to the Financial button and the PMT function? Answers: a. (FORMULAS tab | Function Library group) b. (FORMULAS tab | Defined Names group) c. (HOME tab | Formulas group) d. (DATA tab | Function Library group)
a. (FORMULAS tab | Function Library group)
Which of the following is the path to the Protect Sheet button? Answers: a. (REVIEW tab | Changes group) b. (HOME tab | Protection group) c. (VIEW tab | Protect group) d. (VIEW tab | Protect Sheet group)
a. (REVIEW tab | Changes group)
Modified Multiple Choice Which of the following are financial functions? Answers: a. PMT b. SUM c. FV d. PV
a. PMT c. FV d. PV
Modified Multiple Choice Which of the following functions have these three arguments: rate, periods, payment? Answers: a. PV b. IF c. FV d. PMT
a. PV c. FV
If you click the ____, Excel displays a menu; the first item in the menu identifies the error and the remainder of the menu contains commands from which you can choose. Answers: a. Trace Error button b. cell boundary c. fill handle d. Error Checking button
a. Trace Error button
Modified Multiple Choice An amortization schedule shows the ____ of a loan, and the amount of payment that applies to the principal and interest for each year over the life of the loan. Answers: a. beginning balance b. ending balance c. daily income d. daily cost
a. beginning balance b. ending balance
Rather than manually setting a print area each time you want to print a range, you can ____ the range. Answers: a. name b. manipulate c. lock d. validate
a. name
Modified Multiple Choice Which of the following are PMT function arguments? Answers: a. number of payments b. monthly interest rate c. loan amount d. formula name
a. number of payments b. monthly interest rate c. loan amount
With a(n) ____ data table you can vary the value in one cell. Answers: a. one-input b. two-input c. three-input d. unlimited-input
a. one-input
You should create a(n) ____ when you want to keep others from changing the worksheet from protected to unprotected. Answers: a. password b. administrative account c. authorized user d. manager account
a. password
When building a worksheet for novice users, you should ____ the cells in the worksheet that you do not want changed, such as cells that contain text or formulas. Answers: a. protect b. hide c. delete d. code
a. protect
Which of the following is the path to the Name Manager button? Answers: a. (FORMULAS tab | Function Library group) b. (FORMULAS tab | Defined Names group) c. (FORMULAS tab | Calculation group) d. (FORMULAS tab | Names group)
b. (FORMULAS tab | Defined Names group)
Which of the following is the path to the Cell Styles button? Answers: a. (FORMAT tab | Styles group) b. (HOME tab | Styles group) c. (HOME tab | Cells group) d. (FORMAT tab | Cells group)
b. (HOME tab | Styles group)
____ ensures that users do not change values inadvertently that are critical to the worksheet. Answers: a. Range Finder b. Cell protection c. A data table d. The formula checker
b. Cell protection
The ____ function returns the present value of an annuity. Answers: a. PMT b. PV c. VDB d. FV
b. PV
You can scale a worksheet so that it will fit on one page with an option on the ____ tab in the Page Setup dialog box. Answers: a. Sheet b. Page c. Header/Footer d. Margins
b. Page
____ examines the formulas in a workbook in a manner similar to the way the spell checker examines a workbook for misspelled words. Answers: a. The Range Finder b. The formula checker c. A data table d. An amortization schedule
b. The formula checker
Names are ____ cell references. Answers: a. mixed b. absolute c. formatted d. relative
b. absolute
Names are ____ to the workbook. Answers: a. inclusive b. global c. national d. international
b. global
You can delete a data table by selecting the data table and then ____. Answers: a. clicking the DELETE DATA TABLE command on a shortcut menu b. pressing the DELETE key c. pressing the OVERTYPE key d. clicking the Delete command in the Clipboard group on the Home tab
b. pressing the DELETE key
Similar to the spell checker, Excel has a formula checker that checks formulas in a worksheet for rule ____. Answers: a. repetitiveness b. violations c. consistency d. brevity
b. violations
To hide an entire workbook on an unattended computer, click the Hide button on the ____. Answers: a. (VIEW tab | Workbook Views group) b. (HOME tab | Display group) c. (VIEW tab | Window group) d. (HOME tab | View group)
c. (VIEW tab | Window group)
To select noncontiguous ranges, after selecting the first range, hold down the ____ key an drag through the additional ranges of cells to select them. Answers: a. ALT b. F3 c. CTRL d. F10
c. CTRL
You can add and format a range border by right-clicking the selected range and clicking ____ on the resulting shortcut menu. Answers: a. Insert Comment b. Paste Options c. Format Cells d. Filter
c. Format Cells
You can choose which rules you want Excel to use by enabling and disabling them in the ____ area in the Excel Options dialog box. Answers: a. General b. Advanced c. Formulas d. Proofing
c. Formulas
To prevent round-off errors, use the ____ function. Answers: a. RADIANS b. RAND c. ROUND d. ROMAN
c. ROUND
A(n) ____ shows the beginning and ending balances and the amount of payment that is applied to the principal and interest during each payment period. Answers: a. dialog box b. formula checker c. amortization schedule d. data table
c. amortization schedule
The arguments in ____ in the ScreenTip for a function are optional. Answers: a. braces b. quotation marks c. brackets d. parentheses
c. brackets
If you wish to allow another worksheet user to be able to manipulate some cells, leave those cells ____. Answers: a. locked b. indexed c. unprotected d. hybrid
c. unprotected
Which of the following is the path to the Borders button? Answers: a. (HOME tab | Clipboard group) b. (HOME tab | Editing group) c. (HOME tab | Alignment group) d. (HOME tab | Font group)
d. (HOME tab | Font group)
Which of the following is the maximum number of active data tables per worksheet? Answers: a. 5 b. 20 c. 50 d. As many as you want
d. As many as you want
To prevent sensitive data from being seen in a worksheet, you can hide the worksheet by clicking ____ on the shortcut menu. Answers: a. Hide Workbook b. Hide Rows and Columns c. Hide Sheet d. Hide
d. Hide
You can deselect multiple selected sheets beginning with the Sheet1 tab by pressing the ____ key and clicking the Sheet1 tab. Answers: a. TAB b. ALT c. CTRL d. SHIFT
d. SHIFT
You can set up a worksheet to print in black and white with an option on the ____ tab in the Page Setup dialog box. Answers: a. Page b. Margins c. Header/Footer d. Sheet
d. Sheet
In a process called ____, Excel continually reviews the workbook for errors in formulas as you create or manipulate it. Answers: a. foreground formula checking b. background formula checking c. background function checking d. workbook formula checking
d. background formula checking
Cell ____ can be used to distinguish the different functional parts of a worksheet. Answers: a. ranges b. values c. indices d. borders
d. borders
You use a(n) ____ to automate data analyses. Answers: a. formula checker b. IF function c. amortization schedule d. data table
d. data table
When a formula fails to pass one of the rules and background formula checking is enabled, Excel displays a small ____ in the upper-left corner of the cell assigned the formula. Answers: a. blue square b. red circle c. green diamond d. green triangle
d. green triangle
A cell ____ often is created from column or row titles. Answers: a. formula b. function c. data table d. name
d. name
Data tables must be built in a(n) ____ area of a worksheet. Answers: a. used b. unused c. upper left d. lower right
unused