Which of the Following Is Used to Find the Mean

question 23

Multiple Choice

Which of the following is used to find the mean value of a range of cells using Microsoft Excel?

• A)MEAN(range)
• B)MIN(range)
• C)SUM(range)
• D)AVERAGE(range)

Familiarize with general ledger components, such as the explanation column and reference column, and their purposes.

Grasp the basic principles of debit and credit and their impact on account balances.

Analyze and journalize business transactions and understand their effect on the accounting equation.

Compare and contrast accounting conventions and practices under GAAP and IFRS.

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Definitions:

Balance Sheet

A report detailing a company's assets, liabilities, and shareholders' equity at a particular moment, providing an overview of its financial health.

Unearned Rent

Unearned rent is money received by a landlord for rent that has not yet been earned because the rental period has not occurred. It is recorded as a liability until the period passes.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the correct period.

Depreciation Expense

A technique for spreading out the expense of a physical asset throughout its lifespan.