Question 1

The difference between a company's sales revenue and the cost of goods sold is the company's ____.

Accepted Answer

A)  cost of operation 
B)  gross profit 
C)  growth trend 
D)  total revenue 
A)  cost of operation 
B)  gross profit 
C)  growth trend 
D)  total revenue

Question 2

After you select a cell with an error indicator,you can click the Error Alert ____ to display additional information about the possible error and determine if further action is needed.

Accepted Answer

A)  button 
B)  icon 
C)  ScreenTip 
D)  menu 
A)  button 
B)  icon 
C)  ScreenTip 
D)  menu

Question 3

Case-Based Critical Thinking Questions
Case 9-2
Mackenzie is studying for her midterm exam in her accounting class.Her study partner Libby is her go-to person for help with calculating depreciation.
-Which of the following functions does Libby say is used to calculate a declining balance depreciation?

Accepted Answer

A)  DB 
B)  SLN 
C)  SYD 
D)  DDB 
A)  DB 
B)  SLN 
C)  SYD 
D)  DDB

Question 4

As you repay a loan,each payment represents a positive cash flow as you are sending money to the lending institution._________________________

Accepted Answer

A) True 
 B)False

Question 5

-As shown in the accompanying figure,later payment periods apply more of the payment toward the ____.

Accepted Answer

A)  index 
B)  interest rate 
C)  interest 
D)  principal 
A)  index 
B)  interest rate 
C)  interest 
D)  principal

Question 6

Case-Based Critical Thinking Questions
Case 9-1
Christian is having a lot of problems with errors in a very complicated spreadsheet that he inherited from a colleague,and he turns to another co-worker,Sebastian,for tips in how to trace errors in the sheet.
-If Christian sees which of the following,Sebastian explains,there is a mistyped function name in the sheet.

Accepted Answer

A)  #FNCT? 
B)  #FORM? 
C)  #NAME? 
D)  Any of the above 
A)  #FNCT? 
B)  #FORM? 
C)  #NAME? 
D)  Any of the above

Question 7

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Calculates the present value of a series of future cash flows

Accepted Answer

A) PPMT function 
B) rate of return 
C) IPMT function 
D) IRR 
E) NPV function
F)RATE function
G)PMT function
H)XIRR function
I)NPV
J)NPER function
K)FV function
L)PV function 
A) PPMT function 
B) rate of return 
C) IPMT function 
D) IRR 
E) NPV function
F)RATE function
G)PMT function
H)XIRR function
I)NPV
J)NPER function
K)FV function
L)PV function

Question 8

Amortization schedules often format all entries as positive values,and then label the columns to indicate the values represent negative values._________________________

Accepted Answer

A) True 
 B)False

Question 9

To calculate the annual rate,you must ____ the value returned by the RATE function by the number of payments per year.

Accepted Answer

A)  add 
B)  subtract 
C)  multiply 
D)  divide 
A)  add 
B)  subtract 
C)  multiply 
D)  divide

Question 10

As shown in the accompanying figure,a(n)____ trend appears as a straight line.

Accepted Answer

A)  periodic 
B)  growth 
C)  orthogonal 
D)  linear 
A)  periodic 
B)  growth 
C)  orthogonal 
D)  linear

Question 11

With the PMT function,the type argument is ____ when the payments are made at the beginning of each period.

Accepted Answer

A)  0 
B)  1 
C)  a 
D)  -1 
A)  0 
B)  1 
C)  a 
D)  -1

Question 12

When using the PMT function to calculate monthly loan payments,the interest rate and the number of payments should be based on the interest rate per year and the total months to pay off the loan._________________________

Accepted Answer

A) True 
 B)False

Question 13

The ____ function calculates the present value of an investment or loan.

Accepted Answer

A)  PRES 
B)  PV 
C)  NPER 
D)  FV 
A)  PRES 
B)  PV 
C)  NPER 
D)  FV

Question 14

The ____ function returns a variable declining depreciation for any specified period using any specified depreciation method.

Accepted Answer

A)  DB 
B)  SLN 
C)  SYD 
D)  VDB 
A)  DB 
B)  SLN 
C)  SYD 
D)  VDB

Question 15

In a(n)____ trend,values change by a constant percentage and usually appear as a curve.

Accepted Answer

A)  linear 
B)  growth 
C)  periodic 
D)  orthogonal 
A)  linear 
B)  growth 
C)  periodic 
D)  orthogonal

Question 16

Use the XNPV and XIRR functions for cash flows that appear ____.

Accepted Answer

A)  with a regular pattern 
B)  at unevenly spaced intervals 
C)  at evenly spaced intervals 
D)  none of the above 
A)  with a regular pattern 
B)  at unevenly spaced intervals 
C)  at evenly spaced intervals 
D)  none of the above

Question 17

You can use the ____ function to estimate how much a dollar amount today is worth in future dollars.

Accepted Answer

A)  PV 
B)  IRR 
C)  FV 
D)  DCT 
A)  PV 
B)  IRR 
C)  FV 
D)  DCT

Question 18

The ____ function returns the amount of a particular payment that is used to pay the interest on the loan.

Accepted Answer

A)  PMT 
B)  IPMT 
C)  INPMT 
D)  NPMT 
A)  PMT 
B)  IPMT 
C)  INPMT 
D)  NPMT

Question 19

In the function =CUMIPMT(rate,nper,pv,start,end,type),it is ____ that defines whether the payments are made at the beginning or end of each period.

Accepted Answer

A)  rate 
B)  nper 
C)  end 
D)  type 
A)  rate 
B)  nper 
C)  end 
D)  type

Question 20

-The item marked 1 in the accompanying figure is the ____ value.

Accepted Answer

A)  sum 
B)  declining balance 
C)  initial asset 
D)  salvage 
A)  sum 
B)  declining balance 
C)  initial asset 
D)  salvage

The difference between a company's sales revenue and the cost of goods sold is the company's ____.

After you select a cell with an error indicator,you can click the Error Alert ____ to display additional information about the possible error and determine if further action is needed.

As you repay a loan,each payment represents a positive cash flow as you are sending money to the lending institution._________________________

-As shown in the accompanying figure,later payment periods apply more of the payment toward the ____.

MATCHING Identify the letter of the choice that best matches the phrase or definition. -Calculates the present value of a series of future cash flows

Amortization schedules often format all entries as positive values,and then label the columns to indicate the values represent negative values._________________________

To calculate the annual rate,you must ____ the value returned by the RATE function by the number of payments per year.

As shown in the accompanying figure,a(n)____ trend appears as a straight line.

With the PMT function,the type argument is ____ when the payments are made at the beginning of each period.

When using the PMT function to calculate monthly loan payments,the interest rate and the number of payments should be based on the interest rate per year and the total months to pay off the loan._________________________

The ____ function calculates the present value of an investment or loan.

The ____ function returns a variable declining depreciation for any specified period using any specified depreciation method.

In a(n)____ trend,values change by a constant percentage and usually appear as a curve.

Use the XNPV and XIRR functions for cash flows that appear ____.

You can use the ____ function to estimate how much a dollar amount today is worth in future dollars.

The ____ function returns the amount of a particular payment that is used to pay the interest on the loan.

In the function =CUMIPMT(rate,nper,pv,start,end,type),it is ____ that defines whether the payments are made at the beginning or end of each period.

-The item marked 1 in the accompanying figure is the ____ value.

Getting Started With Excel

Formatting a Workbook

Working With Formulas and Functions

Enhancing a Workbook With Charts and Graphs

Working With Excel Tables, Pivot-tables, and Pivot-charts

Managing Multiple Worksheets and Workbooks

Using Advanced Functions and Conditional Formatting

Developing an Excel Application

Performing What-If Analyses

Connecting to External Data

Expanding Excel With Visual Basic for Applications

Managing Your Files

Getting Started With Microsoft Office 2010

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Exam 9: Working With Financial Tools and Functions

The difference between a company's sales revenue and the cost of goods sold is the company's ____.

After you select a cell with an error indicator,you can click the Error Alert ____ to display additional information about the possible error and determine if further action is needed.

As you repay a loan,each payment represents a positive cash flow as you are sending money to the lending institution._________________________

-As shown in the accompanying figure,later payment periods apply more of the payment toward the ____.

MATCHING Identify the letter of the choice that best matches the phrase or definition. -Calculates the present value of a series of future cash flows

Amortization schedules often format all entries as positive values,and then label the columns to indicate the values represent negative values._________________________

To calculate the annual rate,you must ____ the value returned by the RATE function by the number of payments per year.

As shown in the accompanying figure,a(n)____ trend appears as a straight line.

With the PMT function,the type argument is ____ when the payments are made at the beginning of each period.

When using the PMT function to calculate monthly loan payments,the interest rate and the number of payments should be based on the interest rate per year and the total months to pay off the loan._________________________

The ____ function calculates the present value of an investment or loan.

The ____ function returns a variable declining depreciation for any specified period using any specified depreciation method.

In a(n)____ trend,values change by a constant percentage and usually appear as a curve.

Use the XNPV and XIRR functions for cash flows that appear ____.

You can use the ____ function to estimate how much a dollar amount today is worth in future dollars.

The ____ function returns the amount of a particular payment that is used to pay the interest on the loan.

In the function =CUMIPMT(rate,nper,pv,start,end,type),it is ____ that defines whether the payments are made at the beginning or end of each period.

-The item marked 1 in the accompanying figure is the ____ value.

Getting Started With Excel

Formatting a Workbook

Working With Formulas and Functions

Enhancing a Workbook With Charts and Graphs

Working With Excel Tables, Pivot-tables, and Pivot-charts

Managing Multiple Worksheets and Workbooks

Using Advanced Functions and Conditional Formatting

Developing an Excel Application

Performing What-If Analyses

Connecting to External Data

Expanding Excel With Visual Basic for Applications

Managing Your Files

Getting Started With Microsoft Office 2010

Filters