Account Uses/Microcomputing
What symbol do you use to specify an absolute reference in Excel?
$
For this reference, the column will not vary, but the row reference will vary if copied down the sheet.
$A1
Which region had the lowest gross profit?
3
Which region had the highest gross sales?
6
You are currently working in a worksheet called "Sales" and want to reference cell F4 in another worksheet called "Commissions". How would you do that?
='Commissions'!F4
The distribution of I.Q. in the United states is normal with a mean of 100 and a standard deviation of 15. What percentage of the population has an I.Q. greater than 120? Which of the following formulas in Excel will answer this question?
=1-NORM.DIST(120,100,15,TRUE)
The following function counts the number of cells in range B1:B9 that have numbers in them, ignoring cells that contain text or that are blank or empty.
=COUNT(B1:B9)
If the value in cell A2 equals 15, return "OK." Otherwise, return "Not OK." Which statement accomplishes this?
=IF(A2=15, "OK", "Not OK")
Which function below generates a sample from a normal distribution with mean 15 and standard deviation 2?
=NORMINV(RAND(), 15, 2)
The following function displays the current date and time in a cell.
=NOW()
Determine if the value in cell A5 is not equal to "Sprockets" or if the value in A6 is equal to "Widgets." If either one of those is true, return true (1). Which statement accomplishes this?
=OR(A5<>"Sprockets",A6 = "Widgets")
Which formula below simulates the throwing of 2 dice?
=RANDBETWEEN(1,6) + RANDBETWEEN(1,6)
The following function will sum the range A2:A10, ignoring any SUBTOTAL cells within the range.
=SUBTOTAL(8,A2:A10)
The following formula sums all of the values in column B that are greater than 5:
=SUMIF(B:B,">5")
The following formula will add up the values in the range L7:L20 when two criteria are met. The first criterion requires that the corresponding row in the range J7:J20 contains the value in cell P7, and the second criterion is that the corresponding row in the range K7:K20 contains the value in cell P6.
=SUMIFS(J7:J20, P7, K7:K20, P6,L7:L20)
Which of the following is a best practice to follow when building spreadsheet models?
A constant value should be entered only one time in a workbook. To use a constant value in a formula, reference its cell location.
Cell A2 contains the character string ACCOUNT and the cell A3 contains the number 4. What is the result of the function =LEFT(A2,A3)?
ACCO
The ____ is an interest rate chosen to reflect not only the time value of money, but the desired returns the company expects for the level of risk being taken.
Any of the above
You are given a large file of invoice data to check out for indications of errors and fraud. You suspect that something is wrong with the invoice amounts. What could you use to confirm your suspicions?
Benford's Law
______ use(s) the "least squares" method to calculate a straight line that best fits a set of data points.
Both LINEST and REGRESSION
Which is a reference to the entire column C?
C:C
Who invented the electronic spreadsheet program?
Dan Bricklin and Bob Frankston
The __________ function can be used to analyze data to create a histogram chart.
FREQUENCY
Only CSV files may be imported into an Excel worksheet.
False
The inverse transformation method is a general method for transforming a standard uniform deviate into any other distribution.
False
The straight line declining balance method computes depreciation at an accelerated rate.
False
Use VLOOKUP, one of the lookup and reference functions, when you need to find things in a table or a range by column.
False
Usually, projects with lower IRRs are preferable to projects with higher IRRs.
False
You have a managerial accounting problem set up in a spreadsheet, calculating profit based on projected sales numbers. You want to know how many items you would need to sell to breakeven. What would you probably use to analyze this problem?
GoalSeek
In a project in class we used a "Mapping Table". What was that used for?
It translated the QuickBooks Trial Balance account names to the financial statement labels and retrieved the appropriate values from the trial balance.
The cell D15 contains the date 10/10/2016. The result of the expression =TEXT(D15,"mmmm") is:
October
You need to find the principal payment for year 10 of a loan. You could use the function:
PPMT
You are an accounting manager who often has to take a file from another system and edit it the same way each time. You find this repetitive and want to do something to automate the work. What could you do?
Record a macro to do the tasks
Which region and year had the lowest gross profit?
Region 4, 2009
You are adding a Combo Box into a VBA Userform. To add the selections the user can choose from, you must enter the cell range of values into the _______ property in the combo box's property box.
RowSource
The ____ function sums a series of products in ranges of identical sizes, called arrays, which are parallel to each other in a worksheet.
SUMPRODUCT
You have a managerial accounting problem in an Excel spreadsheet in which you want to maximize profit. Some of the variables have constraints. You would probably want to use:
Solver
A data validation list can be generated from the data in a group of cells.
True
An XML document can have only one root element.
True
Excel allows users to define custom functions for special purposes.
True
Excel allows you to assign a shortcut key to a recorded macro.
True
If a cell contains an error-indicator triangle in its upper-left corner, you can click the cell to display the Error Alert button.
True
In Visual Basic, an Excel macro is called a sub procedure.
True
Monte Carlo methods in finance are often used to evaluate investments in projects or to project future results.
True
Sensitivity analysis helps managers learn how tolerant the projected results are of changes in those estimates and assumptions.
True
The CUMIPMT function could be used to calculate the cumulative interest paid on a loan after the first year.
True
The PPMT function in Excel returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.
True
You can easily summarize the data contained in multiple Excel worksheets by using the Data Consolidation tool.
True
You can use the Excel auditing tools to display cell relationships. You can locate the cells that provide data to formulas and find cells that depend on values in other cells.
True
In the spreadsheet implementation of the pricing form in project 9, you used _________ to get the data needed for a particular procedure.
the VLOOKUP function
A ____ is the link between the content in a document and the instructions for formatting that content.
markup language
A ________ is a tiny chart in a worksheet cell that provides a visual representation of data. It can show trends in a series of values, such as seasonal increases or decreases in sales.
sparkline
In Project 8 you attached some _______ to a button so that a ______ would be inserted into a sheet when the button was pressed.
VBA code, new row
In project 9, ________ was used to store cost information for medical procedures. __________ was executed to display the website, to handle input from the website and to use the information in the database table to produce the price to charge the patient.
a MySQL database, HTML and PHP code
When a formula in a cell refers back to its own cell, either directly or indirectly, it creates __________.
a circular reference
In the dynamic graphing class project, to begin the graph movement you used _________________that had some __________ assigned to it.
an ActiveX control button, Visual Basic code
Cell A2 contains the text string COMPUTER and cell A3 contains the number 3. What is the result of the following? =MID(A2,A3,4)
calculates the number of workdays (i.e., a five-day workweek) within a specified timeframe.
Monte Carlo simulation is a sampling method where inputs are randomly generated from ___________to simulate the process of sampling from an actual population.
database tables