A Jewelry Designer Creates an Excel Sheet to List Different

question 31

Multiple Choice

A jewelry designer creates an excel sheet to list different items he sold on the previous day.Cells A1,B1,C1,and D1 contain headings-Order ID,Unit price,and Quantity,respectively.Cells A2 to A6 list the order ID for items sold-10001,10002,10003,10004,and 10005,respectively.Cells B2 to B6 list their respective unit price-$15,$18.5,$12,$9.5,and $6.Cells C2 to C6 list their respective quantities-20,32,16,15,and 10.If he enters the formula in cell D1 as: =VLOOKUP (10005,A1: H3,3,FALSE) ,what will the formula return?

• A) 10
• B) $6
• C) $12
• D) 10003

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Definitions:

Nonspendable

Funds that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact.

Assigned

Assigned typically refers to the allocation or designation of tasks, resources, or responsibilities to a person or a team within an organization.

Restricted

Refers to assets or conditions that are limited in terms of access, use, or transferability due to legal, contractual, or regulatory requirements.

Modified Accrual Accounting

A method of accounting that recognizes revenues when they become measurable and available to finance expenditures of the fiscal period, and expenditures are recognized when the related fund liability is incurred.