Excel's NORM

question 43

Multiple Choice

Excel's NORM.DIST function can be used to compute _____.

• A) cumulative probabilities for a standard normal z value
• B) the standard normal z value given a cumulative probability
• C) cumulative probabilities for a normally distributed x value
• D) the normally distributed x value given a cumulative probability

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Definitions:

Accrual-Based Sales Revenue

Revenue recognized when earned, regardless of when the payment is received, following the accrual basis of accounting.

Ending Inventory

The worth of merchandise ready for sale when an accounting period concludes, determined by adding beginning inventory and purchases, then subtracting the cost of goods sold.

Retained Earnings

The cumulative amount of profits kept in a company after dividends are paid, used for reinvestment in the business or to pay down debt.

Comprehensive Income

The total change in equity for a reporting period other than from transactions with owners, including all revenues, gains, expenses, and losses.