Obvious Formula Errors in a Worksheet Are Indicated by A(n)

question 108

Multiple Choice

Obvious formula errors in a worksheet are indicated by a(n) ____ in the cell that contains the formula.

• A) error code, such as #/DIV0!
• B) series of pound signs (#####)
• C) green triangle
• D) blue square

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Definitions:

Lower of Cost

An accounting principle that values inventory at the lesser of its historical cost or the current market price to prevent overstating the value of assets.

Allowance Method

An accounting method that estimates and records bad debts expense by anticipating which accounts receivable will be uncollectible.

Direct Method

A way of presenting cash flows from operating activities by listing major classes of gross cash receipts and payments.

Loss Recovery

The process of recouping losses from previous investment or business activities, often by adjustments in strategy or receiving compensations.