The Column Index Number

question 45

Multiple Choice

The column index number

• A) is the periodic interest rate, such as a monthly interest rate.
• B) looks up a value in a horizontal lookup table where the first row contains the values to compare with the lookup value.
• C) calculates the periodic payment for a loan with a fixed interest rate and fixed term.
• D) is the argument in a VLOOKUP function that identifies from which column to return a value.

---

Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Cost of Merchandise Sold

The total cost incurred to acquire goods that have been sold during a period, including purchase price and other expenses related to procurement.

FOB Shipping Point

A term indicating that the buyer takes ownership and pays for transportation costs once the goods leave the seller’s premises.

Inventory Cost

The total cost associated with purchasing and producing the inventory a business holds, including the costs of materials, labor, and overhead.