BUS 401 EXAM 1 STUDY GUIDE.
What function computes the value in which one-half of the data is above
and one-half is below.
A) MIDDLE
B) MODE
C) AVERAGE
D) MEDIAN
D
What do you use to separate arguments in a function?
A) Period (.)
B) Semi-colon (;)
C) Comma (,)
D) Colon (:)
C
Which of the following would not produce the correct monthly payment on
a loan of $13,000 which will be paid off in 5 years with an annual interest
rate of 6%?
A) =PMT(6%,60,-13000)
B) =PMT(.5%,60,-13000)
C) =PMT(.5%,5*12,-13000)
D) =PMT(6%/12,60,-13000)
A
The cell at row 4 and column B, would be identified as 4B.
False
Displaying cell formulas can help find errors in formulas more easily.
True
Right-clicking a column heading, then selecting Insert, will add a new
column to the left of the current column.
, True
You can move a range by using the cut and paste commands.
True
When entering functions, the square brackets, [], indicate required values.
False
You could use both A3>b9 or B9<A3 as the test in an IF function and get
the same results. You would just switch the second and third arguments.
True
The test in an IF function must evaluate to either a True or a False.
True
The VLOOKUP function has four required arguments.
False
If you are looking up exact values in a lookup table then it does not matter
how the table is sorted.
True
The PMT function uses three required arguments and no optional
arguments.
False
Paying state payroll taxes is part of which transaction cycle?
A) human resources/payroll
B) expenditure
C) financing
D) revenue
A
John Pablo works in the accounting department of a multinational
manufacturing company. His job includes updating accounts payable
based on purchase orders and checks. His responsibilities are part of the
What function computes the value in which one-half of the data is above
and one-half is below.
A) MIDDLE
B) MODE
C) AVERAGE
D) MEDIAN
D
What do you use to separate arguments in a function?
A) Period (.)
B) Semi-colon (;)
C) Comma (,)
D) Colon (:)
C
Which of the following would not produce the correct monthly payment on
a loan of $13,000 which will be paid off in 5 years with an annual interest
rate of 6%?
A) =PMT(6%,60,-13000)
B) =PMT(.5%,60,-13000)
C) =PMT(.5%,5*12,-13000)
D) =PMT(6%/12,60,-13000)
A
The cell at row 4 and column B, would be identified as 4B.
False
Displaying cell formulas can help find errors in formulas more easily.
True
Right-clicking a column heading, then selecting Insert, will add a new
column to the left of the current column.
, True
You can move a range by using the cut and paste commands.
True
When entering functions, the square brackets, [], indicate required values.
False
You could use both A3>b9 or B9<A3 as the test in an IF function and get
the same results. You would just switch the second and third arguments.
True
The test in an IF function must evaluate to either a True or a False.
True
The VLOOKUP function has four required arguments.
False
If you are looking up exact values in a lookup table then it does not matter
how the table is sorted.
True
The PMT function uses three required arguments and no optional
arguments.
False
Paying state payroll taxes is part of which transaction cycle?
A) human resources/payroll
B) expenditure
C) financing
D) revenue
A
John Pablo works in the accounting department of a multinational
manufacturing company. His job includes updating accounts payable
based on purchase orders and checks. His responsibilities are part of the
