T/F

4. An absolute reference changes the location of its reference relative to the position of the formula.| 5. A relative reference changes the location of its reference relative to the position of the formula. To obtain the balance of an account with a normal debit balance in a ledger, the sum of debits is subtracted FROM the sum of credits. 7. To obtain the balance of an account with a normal credit balance in a ledger, the sum of debits is subtracted FROM the sum of credits. 8. If a loan is based on Present Value, the borrower receives an amount lower than the loaned amount, but will have to pay the equivalent of the loaned amount. 9. If a loan is based on Future Value, the borrower receives an amount equal to the loaned amount, but will have to pay a total amount greater than the loaned amount. 10. Accumulated Depreciation appears in the Income Statement. 11. Depreciation Expense appears in the Balance Sheet. 12. In Excel, it is possible to refer to values from another Excel file. 13. If you deduct sales returns and discounts from Sales, you will obtain Gross Sales. 14. If you deduct sales returns, discounts, expenses, and taxes from Sales, you will obtain Net Sales. 15. Net income or loss is either added to or deducted from Owner's Equity in the Balance Sheet. 16. The resulting ratio using Acid Test can never be higher than the result of Current Ratio. 17. In the LOOKUP function, the Lookup Vector is a range that contains the desired values relative to the Lookup Value. 18. In the LOOKUP function, the Result Vector is a range that contains the reference values relative to the Lookup Value. 19. In creating a LOOKUP function, the Lookup Vector and Result Vector are locked as absolute references. 20. In creating a LOOKUP function, the Lookup Value is locked as an absolute reference 21. Under the Present Value loan scheme, the amount given to the borrower is equal to the loaned amount. 22. Under the Future Value loan scheme, the amount given to the borrower is equal to the loaned amount 23. Under the Future Value loan scheme, the amount of regular payment can be computed by dividing the Principal by the total number of payments. 24. In computing loan annuity, regular payment is divided between the interest due for that payment, and the principal 25. Under the Present Value loan scheme, the sum of the Present Value of the loan and the total interest will give you the Principal. 26. Under the Future Value loan scheme, the sum of the Principal and the total interest will give you the future value of the loan. 27. Liquidity is the ability of the business to settle all of its liabilities. 28. Solvency is the ability of the business to settle all of its current liabilities. 29. Creditors usually require a liquidity or solvency ratio of not less than 2 before deciding edit to the bus