ACIS 1504

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Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Loan" worksheet. Use Goal Seek and assume we want to change our monthly payment to $2,500 and we would like to know what the new APR % would be? (also make sure the number of periods is set to 5 years in cell B3 before doing the goal seek function) 14.49% 11.29% 17.27% 37.53%

17.27%

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Based on data that is given in the excel file, what is the maximum number of hotel guests that the hotel could accommodate on a given day? (hint: how many rooms does the hotel have and how many guests are allowed per room) 135 hotel guests 360 hotel guests 90 hotel guests 180 hotel guests 45 hotel guests

180 hotel guests

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which quarter had the MIN net operating income? 1st quarter 4th quarter 3rd quarter 2nd quarter

1st Quarter

Complete Chapter 1 DA Exercise 2 before answering this question. How many times does the month of June appear for year 2017? 2 3 5 4 1

Refer to your completed Data Analytics Project #6 and click on the "Solutions 1" worksheet. How many PivotTable fields are within the ROWS area of the PivotTable? 4 2 1 3

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2019 and then change it to 2020 and then 2021. Which year had the highest amount of Sales Revenue within the Contribution Format Income Statement? 2019 2022 2020 2021

2019

The following RIGHT function was entered into cell P15 on an Excel worksheet: =RIGHT(C15,4) Cell C15 contained the following: LT4388892HTM What would be the output of the RIGHT function in cell P15? LT43 LTTM HTM4 2HTM None of the answers are correct.

2HTM

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which quarter had the MAX net operating income? 2nd quarter 4th quarter 3rd quarter 1st quarter

4th quarter

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. Review the outputs for column G which is the Social Security Tax. How many employees had $0 withheld for social security this pay period? 5 employees 7 employees 0 employees 3 employees

5 employees

Refer to your completed Data Analytics Project #6 and click on the "Summary" worksheet. What is the value argument (row number) used in the ISBLANK function on this worksheet? 50001 30241 30243 50000

50001

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2020. What is the Net Operating Income (Loss) from the Contribution Format Income Statement for Year 2020? $14,988 ($38,135) loss ($12,106) loss $50,946

($12,106) loss

The mouse pointer will turn into a black plus sign when it is dragged over the: Fill Handle. Formula Bar. edge of a highlighted range of cells. the lower left corner of any activated cell. Status Bar.

Fill Handle.

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What type of function is being used in column G (G3:G22)? IF function Nested IF function OR function AND function

IF function

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. In step #4, what type of referencing are they referring to in the last sentence talking about not changing cells C3 and C2 when the formula is pasted into other cell locations? Hybrid reference Absolute reference General reference Mixed reference

Absolute reference

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which two items (or columns) are compared when calculating the variances? Actual and Flex Budget Actual and Plan Fixed and Variable Flex Budget and Plan

Actual and Flex Budget

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2020 and assume the company would like to earn a Target Profit of $100,000. How many units would the company need to sell to achieve the $100,000 target profit? 8,075 units 15,789 units 17,004 units 13,467 units

13,467 units

When using the Insert Sheet Columns command a blank column will be inserted to the ___________________ of the activated cell. (hint: you may want to open up an excel template like Chapter 2 DA Exercise #1 or #2 and actually insert a column where you have some data present) left above below right

left

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Assuming you did steps 1 thru 23, step #24 has you add the "word" January to cell B17. When adding the word "January" to cell B17, what wording (if any) now appears in merged cell beginning with I16? "Please update formulas to include the data" "ERROR" "Data added after row 16 is not included in this analysis" No additional wording appears in merged cell beginning with I16.

"Data added after row 16 is not included in this analysis"

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What was the 401k Company Match output for employee Wei Li? (this will be the output in cell L16) $11.50 $23.00 $46.00 $0

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Loan" worksheet. If you change the repayment in years to 10 years instead of 5 years, what is our new monthly payment? $1,647 $915 $1,001 $1,464

$1,001

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What is the net payment output for Janet Washington which is the output in cell O10? $1,368.75 $1,234.10 $1,101.39 $1,342.05

$1,101.39

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Go to the "Future NI" worksheet. The growth rate that you should see is 8% and the future net income should be $1,466,650. If you double the current growth rate assumption to 16%, what will the new amount be for "future net income" in cell B5? $2,933,300 $2,500,000 $3,621,641 $1,719,284

$1,719,284

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. If you increase or decrease the plan occupancy days by 1 day (in cell K12), how much will the estimated cleaning expense (L13) change (increase or decrease)? $1.00 $2,001.40 $1.40 $2,001

$1.40

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Change the value in cell E7 to 2,500. What is the new variable cost per occupancy day in cell L9? $0.448 The variable cost per occupancy day did not change. $860 $1.61

$1.61

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. What is the actual average selling price per unit in the first quarter? (hint: you know the Actual Total Sales and you know the Actual Unit Sales). Round your answer to the nearest two decimals. $15.68 per unit $16.19 per unit $17.00 per unit $20.55 per unit $17.59 per unit

$16.19 per unit

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Future NI" worksheet. If you change the growth rate to 0% and future years to 10, what is the new calculation for the Future Net Income in cell B5? $2,500,000 $0 $1,250,000 $3,621,641

$2,500,000

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Loan Data" worksheet. Based on the information in the "Loan Data" worksheet, what would be the principal payment on the loan during the first month? (The monthly payment consists of both the interest payment and the principal payment for the month). $8,500 $2,998 $708 $3,706

$2,998

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What is the retirement benefit output for Burt Shin which is the output in cell M11? $0 $246.00 $216.50 $153.75

$246.00

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "AP" worksheet. What is the total AP "Accounts Payable" balance (cell H8) and this is the balance in the account at the end of which month? $26,978 is the balance and it is the balance at the end of March. $22,978 is the balance and it is the balance at the end of March. $26,978 is the balance and it is the balance at the end of February. $22,978 is the balance and it is the balance at the end of February.

$26,978 is the balance and it is the balance at the end of March.

$420,245

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What was the Total Retirement Benefits output for employee Bernard Dixey? (this will be the output in cell N14) $317.00 $475.50 $481.30 $639.80

$481.30

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Change the Plan Occupancy Days in cell K12 to 2,500. What is the new estimated cleaning expense in cell L13? $6,420 $2,000 $5,500 $8,720

$5,500

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What is the federal tax output for Sanjev Patel which is the output in cell J9? $540.00 $22,950.00 $675.00 $18,360.00

$675.00

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "AP Pay Model" worksheet. Reverse the percentages so that 10% is paid the first month, 30% is paid the second month, and 60% is paid the third month. What will be your new "Total AP Balance" in the AP worksheet if the percentages are reversed? $75,700 $141,744 $24,000 $87,500

$75,700

Each worksheet in an Excel workbook can hold a maximum of how many rows of data? 10,480,576 rows 75,925 rows 1,048,576 rows 576,048 rows 480,576 rows

1,048,576 rows

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2020. What is the Contribution Margin Ratio for 2020? (located in cell F10) 58.9% The contribution margin ratio for 2020 is the same as for 2019. 51.5% 41.1%

41.1%

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2021 and change the Target Profit value in F15 to $0. How many units must the company sell to achieve a $0 target profit (ie, breakeven point)? (this will be the sales target in units which is cell F7) 7,416 units 6,950 units 6,416 units 7,950 units

6,416 units

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. What was the average net operating income per quarter which you calculated in cell F16? $6,539 $4,658 ($106) loss $11,001 $3,780

6,539

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2021. What was the unit sales during Fiscal Year 2021? (unit sales for a specific year is located in cell F5) 6,612 units 6,363 units 6,950 units 8,075 units

6,950 units

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Assume that we are in a "Leap Year" which means February has 29 days in the month. What would be the new "Capacity" if February had 29 days instead of the normal 28 days? 70.17% 72.71% 71.17% 73.71%

71.17%

Complete Chapter 1 DA Exercise 2 before answering this question. Sales Dollars for March 2018 should be (assume the unit sales and average price is correct): $64,950 $67,455 None of the answers are correct. $58,455 $77,940

77,940

The following ABS function was entered into a cell on an Excel worksheet: =ABS(C7) If the value -99 is entered into cell C7, what will be the output of the ABS function? False -99 99 0 True

The following is entered into cell A2: ABC123 Assume in cell H2 we would like to extract the 123 out of cell A2. Which of the following functions would be correct in cell H2? =RIGHT(3,A2) =LEFT(A2,3) =LEFT(A2,123) =LEFT(3,A2) =RIGHT(A2,123) =RIGHT(A2,3)

=RIGHT(A2,3)

Which of the following is true with regards to conducting calculations with the data on a PivotTable? Data on a PivotTable cannot be used to produce calculated outputs. Data can only come from fields in the underlying dataset. A calculated field can be added to the PivotTable by clicking the Calculations button in the Formulas tab of the Ribbon. A calculated field must be created by clicking the Fields, Items, and Sets button in the Analyze tab of the Ribbon. Formulas can be added by clicking one of the buttons in the Function Library section of the Formulas tab. Formulas can be entered onto the PivotTable by typing them into the VALUES area on the PivotTable Fields window pane.

A calculated field must be created by clicking the Fields, Items, and Sets button in the Analyze tab of the Ribbon.

Which of the following is true when working with an Excel worksheet that was created by another person? The Excel file can only be opened and used on the PC of the person who originally created the worksheet. A data audit must be conducted before using an Excel worksheet that was created by another person. Since the Excel worksheet was already used by another person, tasks such as a data audit can be skipped. Understanding the data included in the workbook will be easier since it was created by another person. You should never use an Excel worksheet that was created by another person.

A data audit must be conducted before using an Excel worksheet that was created by another person.

Which of the following represents a contiguous range of cells? Sheet1:Sheet2 Sheet1:A5,Sheet1:D15 A5,D15 A5:D15

A5:D15

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Cash Flow" worksheet. Which payment item on the worksheet appears to be more of a variable cost? (all others should appear to be a fixed cost for January, February, and March) AP Loans Leases Salaries

Which of the following is the last step of the DATA Analytics framework? Acquisition Analysis Automate Time Decision

Analysis

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2020. Change the value in cell F15 to $60,000 and write-down the Variable Cost Ratio and Contribution Margin Ratio (located in cell F9 & F10). Change the value in cell F15 to $0 and write-down the Variable Cost Ratio and Contribution Margin Ratio (located in cell F9 & F10). Which of the following statements is TRUE? Both ratios remained the same. The Variable Cost Ratio decreased and the Contribution Margin ratio decreased. The Variable Cost Ratio increased and the Contribution Margin ratio increased. The Variable Cost Ratio increased and the Contribution Margin ratio decreased.

Both ratios remained the same.

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Loan Data" worksheet. In cell B2, you should have used the YEAR function. What cell is referenced as the "serial number" within the YEAR function? Cell B3 in the Income Statement worksheet. Cell B6 in the Loan Data worksheet. The serial number was NOT one of the arguments in the YEAR function. Cell B4 in the Update Status worksheet.

Cell B4 in the Update Status worksheet.

Assume we have the following: B2:E8 This would be referred to as: cell cell range cell address cell reference

Cell Range

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2021. How is the contribution margin per unit being calculated in cell F11? Sales Revenue divided by Unit Sales Contribution Margin divided by Unit Sales Sales Revenue divided by Sales Target in Units Contribution Margin divided by Sales Target in Units

Contribution Margin divided by Unit Sales

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2019. Just look at the Contribution Format Income Statement and study the formulas that we are using to come up with Net Operating Income. Assume that the company was at breakeven for 2019 and that the Net Operating Income was $0. Which of the following is TRUE when a company is at breakeven (ie, earning $0 of net operating income)? Contribution Margin must equal $0 Total Sales must equal Total Fixed Costs Contribution Margin must equal Total Fixed Costs Total Sales must equal Total Variable Costs

Contribution Margin must equal Total Fixed Costs

Which of the following Ribbon tabs contains a command used to sort the data on a worksheet? Formula Data Home Review Developer Page Layout

Data

Which of the following is found in the Data Analytics Model? PivotCharts Worksheets multi-level sorting Treemap charts Data design

Data Design

Placing ____________________________ into a spreadsheet decreases or eliminates the risk of your analysis becoming corrupt or distorted. worksheets data design shortcuts data internal controls

Data internal controls

Which of the following is the first step of the DATA Analytics framework? Data design Decisions Time Data audit Data internal control

Decisions

Assume we are in cell address G9 within an excel worksheet. The "G" refers to the row and the "9" refers to the column within the worksheet. False True

False

The ABS function provides you with the arithmetic mean or average for a group of numbers. True False

False

Which tab of the Ribbon contains commands to change the color of cells or text on a worksheet? File Formula Page Layout Insert Home

Home

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Make sure you read the first two paragraphs of the exercise which is before actual steps. Which of the following statements is TRUE? The variable cost per unit will increase as more rooms need to be cleaned. The variable cost per unit will decrease as less units need to be cleaned. If more rooms need to be cleaned, the fixed cost portion of the cleaning expense should increase. If less rooms need to be cleaned, the fixed cost portion of the cleaning expense will remain the same.

If less rooms need to be cleaned, the fixed cost portion of the cleaning expense will remain the same.

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Income Statement" worksheet. The corporate tax rate that was assumed for this exercise was 21%. Assume that the corporate tax rate was not 21% but 25%. Which of the following items would change on the income statement due to the change in tax rates? Income tax expense and Net income. Income tax expense, Income before Income Tax, and Net income. Income tax expense, Net operating income, and Net income. Income tax expense, gross profit, and Net income.

Income tax expense and Net income.

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Lease" worksheet. Which of the following would make the monthly payment decrease? Increase the asset cost to $300,000. Increase the interest rate to 3.90%. Increase the lease duration to 15 years. Decrease the residual value to $0.

Increase the lease duration to 15 years.

Which of the following Ribbon tabs would be used to add a header or footer to a worksheet? Home Insert Formula Developer Review

Insert

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on "Income Statement" worksheet. Assume the company's interest expense changes due to either an increase or decrease in interest rates. Which numbers on the income statement would change due to the change in interest rates? Interest expense, Gross profit, net operating income, and Net income. Interest expense, Income before Income Tax, Income Tax, and Net income. Interest expense, Net operating income, Income before Income Tax, and Net income. Interest expense and Net income.

Interest expense, Income before Income Tax, Income Tax, and Net income.

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which of the following statements is TRUE? We want to be under budget in all categories (revenues, expenses, and net operating income). It is better to be over budget in expenses and under budget in revenue categories. It is best to be over budget in both revenue and net operating income categories. We want to be over budget in all categories (revenues, expenses, and net operating income).

It is best to be over budget in both revenue and net operating income categories.

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "AP" worksheet. The total amount of cash payments for February should be $37,000. Which of the following statements is TRUE when it comes to the $37,000? (hint: you may need to reference AP Pay Model worksheet as well) It represents 10% of December purchases being paid off, 60% of January purchases being paid off, and 30% of February purchases being paid. It represents $37,000 of cash payments from February purchases. It represents 10% of December purchases being paid off, 30% of January purchases being paid off, and 60% of February purchases being paid. It represents 60% of February purchases being paid off, 30% of March purchases being paid off, and 10% of April purchases being paid.

It represents 10% of December purchases being paid off, 30% of January purchases being paid off, and 60% of February purchases being paid.

Complete Chapter 1 DA Exercise 2 before answering this question. Look only at the year 2018 data. Which two months had the same identical amount for total sales dollars? March and April November and December June and July July and August January and February

July and August

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Which month had a "Capacity" over 100%? July June December November August

June

If the Delete Sheet command is used to delete a worksheet that contains data, what will happen if the Undo command is used? The worksheet and the data contained in it will be restored. The worksheet will be restored in a new workbook. Nothing will happen. The Undo command will not restore the worksheet once it is deleted using the Delete Sheet command. The data will be restored in an existing worksheet in the workbook. The worksheet will be restored but not the data that was contained in it.

Nothing will happen. The Undo command will not restore the worksheet once it is deleted using the Delete Sheet command.

Complete Chapter 1 DA Exercise 2 before answering this question. What month is missing from the year 2018? July December November February October

November

Holding the CTRL key and tapping the N key on your keyboard will do which of the following? Add a blank Chart sheet to a workbook. Open the Save As dialog box. Add a blank worksheet to an existing workbook. Open a new workbook. Add a PivotTable to a worksheet.

Open a new workbook

Using data analytics to predict what might happen in the future is called: predictive analytics data audit data visualization data design concatenate

Predictive Analytics

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Lease Data" worksheet. Which number on this worksheet will appear on a company's balance sheet? Present value of lease payments Annual payment Depreciation expense Interest expense

Present value of lease payments

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. The first quarter variance for Net Operating Income is ($5,994). This means the net operating income had an unfavorable variance since the actual net operating income was lower than the flex budget net operating income. If you look at the items going into net operating income, what line item (account name) variance had the biggest impact on why we had this unfavorable variance? Revenue Utilities Salaries Ingredients Rent

Revenue

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. The second quarter variance for Net Operating Income is $2,720. This means the net operating income had a favorable variance since the actual net operating income was higher than the flex budget net operating income. If you look at the items going into net operating income, what line item (account name) variance had the biggest impact on why we had this favorable variance? Ingredients Salaries Revenue Miscellaneous Rent

Revenue

To save a workbook, hold the CTRL key and tap which of the following key(s)? S S and then the letter A A and then the letter S A 1

In the Chapter 8 Data Analytics Project #6, how did we get rid of the repeating values? Using a combination of VLOOKUP and HLOOKUP functions. Using a combination of RIGHT and LEFT functions. Using a combination of CONCATENATE and IF functions. Using a combination of ABS and ISERROR functions.

Using a combination of CONCATENATE and IF functions.

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Review the variances for the expenses in the Annual Results. For expenses it would be a favorable variance if the actual expense came in lower than the flexible budget expense. It would be an unfavorable variance if the actual expense came in higher than the flexible budget expense. Which expense item(s) within the annual results had unfavorable variances? Salaries only Utilities and Ingredients Salaries, Utilities, and Ingredients Salaries and Miscellaneous Miscellaneous only Utilities only

Salaries and Miscellaneous

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which expense(s) in the first quarter were over-budget? Salaries and Ingredients Rent, Utilities, and Miscellaneous Salaries, Miscellaneous, and Utilities Salaries only Ingredients only

Salaries, Miscellaneous, and Utilities

This is a question from the chapter text. The following function was entered into cell D5 on an Excel worksheet: =TEXT(B5,"mmm") If the date 9/1/2021 is entered into cell B5, what will be the output of the function? Sep September September 1, 2021 9

Sep

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Cash Flow" worksheet. Which function was used on cells B3:D3? MONTH funtion EOQUARTER function TEXT function EOMONTH function

TEXT function

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. Click on the "Cash Flow" worksheet. Which of the following statements is TRUE? None of the answer choices are correct. The "serial number" used in the YEAR function (within cell D1) was cell D10. The "start date" used in the EOMONTH function (within cell C2) was cell D1. The "serial number" used in the YEAR function (cell D1) and the "start date" used in the EOMONTH function (cell C2) was cell B2.

The "serial number" used in the YEAR function (cell D1) and the "start date" used in the EOMONTH function (cell C2) was cell B2.

Complete the exercise Cash Outflow Scenarios (Chapter 5 DA Exercise 2) before answering this question. You will use both the Loan and Lease worksheets for this question. What amounts were used as the "FV" argument within the PMT function for both the Loan and Lease? The FV was set at 0 for the loan and set at $20,000 for the lease. The FV was set at $100,000 for the loan and it was set at $20,000 for the lease. The FV was set at 0 for both PMT functions in the loan and lease worksheets. The FV was set at $20,000 for the loan and $40,000 for the lease.

The FV was set at 0 for the loan and set at $20,000 for the lease.

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Loan Data" worksheet. The monthly payment calculation is calculated in cell B8 using the PMT function. The first two arguments of the PMT function are the RATE and NPER. What is the RATE and NPER (# of periods) that is being used in the PMT function in cell B8? The RATE is 2.125% and the NPER is 5. The RATE is 0.354% and the NPER is 60. The RATE is 0.354% and the NPER is 5. The RATE is 4.25% and the NPER is 60.

The RATE is 0.354% and the NPER is 60.

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Which of the following statements is TRUE when reviewing the Annual Results section (along with the budgeted fixed and price & variable cost)? The net operating income came in under-budget. Rent expense would be considered a variable cost for the business. The only expense account that did not have a variance in the Annual Results section was Utilities. The overall revenue number came in over-budget. Ingredients expense would be considered a fixed cost.

The net operating income came in under-budget.

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. In step #46, it asks if you can think of a reason why revenue was lower than the flex budget. Which of the following statements would be a logical reason that 1st quarter actual revenue was lower than the flex budget? The planned variable cost per unit did not equal the planned selling price per unit. The actual units sold was exactly equal to what was planned in the original budget. The actual selling price to customers must have been lower than what was originally planned. The actual number of units sold was higher than what was originally planned.

The actual selling price to customers must have been lower than what was originally planned.

This question is not from any exercise but from the actual chapter text. The following function was entered into a cell on an Excel worksheet: =TEXT(B2,mmmm) Which of the following explains why the output of this function would be the #NAME? error code? The entry in cell B2 contains words and not numbers. The code entered into the format_text argument is not enclosed in quotations. A valid date was not entered into cell B2. A valid "value" was not used in the value argument.

The code entered into the format_text argument is not enclosed in quotations.

If the pound signs (###) appear in a cell location, which of the following is true? The cell is in a column that has been deleted. The column width needs to be increased. The data in the cell has been protected. The data in the cell has been hidden. An error has occurred in that cell.

The column width needs to be increased.

Complete the exercise Contribution Format Income Statement (Chapter 7 DA Exercise 2) before answering this question. Open the Contribution worksheet. Change the value in cell B1 to 2019. Change the value in cell F15 to $60,000 and write-down the contribution margin per unit (located in cell F11). Change the value in cell F15 to $0 and write-down the contribution margin per unit (located in cell F11). Which of the following statements is TRUE? The contribution margin per unit remained the same when changing the target profit from $60,000 to $0. The contribution margin per unit increased when changing the target profit from $60,000 to $0. The contribution margin per unit showed an ERROR message when changing the target profit from $60,000 to $0. The contribution margin per unit decreased when changing the target profit from $60,000 to $0.

The contribution margin per unit remained the same when changing the target profit from $60,000 to $0.

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Income Statement" worksheet. One of the expense items on the income statement is called "Depreciation". What item(s) is(are) being depreciated that is causing us to have depreciation expense? Both the cash loan and equipment lease are NOT being depreciated. The depreciation must be coming from something else. The equipment lease is being depreciated but the cash loan is NOT being depreciated. The cash loan is being depreciated but the equipment lease is NOT being depreciated. Both the cash loan and the equipment lease is being depreciated.

The equipment lease is being depreciated but the cash loan is NOT being depreciated.

This is a question from the chapter text. If the [Type] argument of the PMT function is defined with the number 1, which of the following is TRUE? The output of the function will be expressed in monthly payments. The function will assume that payments will be made at the beginning of each period. The function will assume that payments will be made at the end of each period. The output of the function will be expressed in annual payments.

The function will assume that payments will be made at the beginning of each period.

Which of the following explains the purpose of the WEEKNUM function? The function will count the number of weeks that is covered by dates entered into a target cell range. The function will show the week number of a calendar year associated with a date serial number. Given a range of cells that contain dates, the function will show which weeks the range covers in a calendar year. After setting the code to determine what day begins the week, the function will show for any given date how many days are left till the end of the week.

The function will show the week number of a calendar year associated with a date serial number.

Which of the following explains the possible outputs of the ISERROR function? (assume the ISERROR function is not part of an IF function). The output is either the number 1 or 0. The output is either the word TRUE or FALSE. The output will be the circular reference error for poorly constructed formulas and functions. The function will display the divide by zero error when checking formulas that are dividing values.

The output is either the word TRUE or FALSE.

Complete the Business Flex Budgets exercise (Chapter 4 DA Exercise 1) before answering this question. Look at the "Annual Results" section of the excel file for this exercise. Which of the following statements is FALSE? The actual total revenue was less than what was expected. The total expenses came in over budget (ie, actual total expenses was higher than what was expected). The salaries expense category came in under budget (ie, actual expense was less than what was expected). The actual rent expense was exactly what was expected. The net operating income came in under budget (ie, actual net operating income was less than what was expected).

The salaries expense category came in under budget (ie, actual expense was less than what was expected).

Complete the exercise Pro Forma Income Statement (Chapter 5 DA Exercise 1) before answering this question. Click on the "Lease Data" worksheet. In cell B9, we used the EOMONTH function which has two arguments (start date, months). Which date was used as the start date and how many month(s) was used in EOMONTH function? The start date that was used was the closing date (cell B7) on the Lease Data worksheet and the number of month(s) used was 12. The start date that was used was the fiscal year end (cell B4) on the Update Status worksheet and the number of month(s) used was 1. The start date that was used was the fiscal year end (cell B4) on the Update Status worksheet and the number of month(s) used was 12. The start date that was used was the closing date (cell B7) on the Lease Data worksheet and the number of month(s) used was 1.

The start date that was used was the closing date (cell B7) on the Lease Data worksheet and the number of month(s) used was 12.

Complete the Payroll Taxes for a Medical Group exercise (Chapter 6 DA Exercise 2) before answering this question. What is the total % for the FICA Tax and what does it stand for? The total % is 1.45% and FICA stands for Federal Income Cares Act. The total % is 6.20% and FICA stands for Federal Insurance Contributions Act. The total % is 11.80% and FICA stands for Federal Income Cares Act. The total % is 7.65% and FICA stands for Federal Insurance Contributions Act.

The total % is 7.65% and FICA stands for Federal Insurance Contributions Act.

Consider the following cell reference: =$E10 The above cell reference would be considered a mixed reference. True False

True

The formula bar is located towards the top and the status bar is located towards the bottom of the excel worksheet. False True

True

Complete the Cost Analytics exercise (Chapter 4 DA Exercise 2) before answering this question. Step #17 in the exercise describes the overall formula for a mixed cost. Which of the following is the correct formula (ie, cost function) for this exercise given the variable cost per unit and total fixed expenses? Y = $2,000 + 1.40(x) Y = $2,001.40 Y = $2,000(x) + 1.40 Y = 1.40(x)

Y = $2,000 + 1.40(x)

When using the Insert Sheet Rows command a blank row will be added _________________________ the activated cell. (hint: you may want to open up an excel template like Chapter 2 DA Exercise #1 or #2 and actually add a row where you have some data present) above right below left

above

After highlighting a range of cells, holding the CTRL key and tapping the X key on your keyboard will do which of the following? transfer the data in the highlighted range to a blank worksheet in the workbook cut the data in the highlighted range copy data in the highlighted range transpose all values in the highlighted range paste data into the highlighted range

cut the data in the highlighted range

The row numbers along the left side of a worksheet are as follows: 1 2 4 5 6. This indicates that row 3 is: moved deleted hidden protected collapsed

hidden

When creating a PivotTable, you would click which of the following Ribbon tabs? Home Insert Page Layout Formula File

insert

When entering numeric data into an Excel worksheet, you should omit any symbols such as commas or dollar signs because: any numbers will not be useable in formulas and functions. this will prevent any additional formatting enhancements from being added to the cell later. Excel will not accept these entries into a cell location. it slows down the data entry process. Excel will convert all numeric data to text data.

it slows down the data entry process.

The F1 key is used to: open the Save As dialog box open a cell for editing add a blank worksheet to a workbook open a blank workbook open the Help window

open the Help window

Complete Chapter 1 DA Exercise 2 before answering this question. How is the average price calculated? unit sales multiplied by sales dollars unit sales divided by sales dollars sales dollars multiplied by unit sales sales dollars divided by unit sales

sales dollars divided by unit sales

The first argument of the WEEKNUM function is the following: [num_chars] range logical test number [return_type] serial_number

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