QUESTION 13 You are preparing journal entries using spreadsheet software and you realize you keyed in the debit 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 on the spreadsheet to create your balance sheet. What should you do?

		Disregard it, it will be automatically corrected in the calculation when the number is corrected
		Retype the formula that referenced the cell address in the balance sheet
		Take out the formula that referenced the cell and type in the number on the balance sheet
		Disregard it but write a memo to the owner regarding the situation

5 points

QUESTION 14 Spreadsheet software can be used to determine the amount of simple interest owed on a 30 day note. What mathematical operations would be used?

		addition and subtraction
		multiplication and division
		addition and division
		multiplication and subtraction

5 points

QUESTION 15 When preparing an payroll register using spreadsheet software, you would need to identify the following except:

		Hours worked
		Withholding tax amount
		Last year's payroll expense
		FICA tax rate

5 points

QUESTION 16 You made an error in a spreadsheet formula. You know your spreadsheet will be the basis for an important business decision. Ethically, you should:

		Disclose the error and take full responsibility as soon as possible.
		Disclose the error but blame an employee who has since left your company.
		Seek other employment without disclosing the error.
		Wait until the decision has been made since you believe your flawed analysis supports the correct viewpoint.

5 points

QUESTION 17 Spreadsheet software can be used to communicate financing, investing and operating activities for a business. Which statement would contain this information?

		Balance Sheet
		Income Statement
		Statement of Cash Flows
		Statement of Retained Earnings

5 points

QUESTION 18 A footer would be placed on a spreadsheet document _____to communicate additional information to the reader

		At the bottom of the page
		At the top of the page
		On the right side of the page
		On the left side of the page

5 points

QUESTION 19 When preparing a horizontal analysis, using software, the percentage of change for land would be calculated using a formula?

		Dividing land by total assets
		Dividing current and past years' land cost
		Multiplying current year market value and total assets
		Adding past years and depreciation on the land

5 points

QUESTION 20 You need to prepare a budgeted income statement so you create a spreadsheet formula in Excel with a $ in front of the letter and number (ex. $A$4) in the cell address for the percentage increase from last year to this year, this means that

		The answer will always be shown in the same cell address such as A4 even if a new file is opened
		The answer will be shown in a cell that is at least as wide as the specified number in the formula such as 4
		The answer will be shown with a dollar sign such as $100 so it is easier for the reader to understand rather than a percentage
		The number in the cell remains constant even if the formula is copied to another location.