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Use the Table Below to Answer the Following Question(s) -Which of the Following Is the Excel Formula Used to Is

question 66

Multiple Choice

Use the table below to answer the following question(s) .
Below is a room overbooking model spreadsheet for the Metza, a hotel chain. The hotel has 425 rooms priced at $180 per day each, and is usually fully booked. Reservations can be cancelled any time before 5:00 p.m. with no penalty. The hotel estimates an average overbooking cost of
$150. Customer demand is set at 400 with an average cancellation of 20. $\begin{array}{|c|l|l|}\hline &A&B\\\hline1 & \begin{array}{c}\text { Hotel Overbooking Model } \\\text { for the Metza group of } \\\text { hotels }\end{array} & \\\hline 2& & \\\hline 3 & \text { Data } & \\\hline 4 & & \\\hline 5 & \text { Rooms Available } & 425 \\\hline 6 & \text { Price per room } & \$ 180 \\\hline 7 & \text { Overbooking Cost } & \$ 150 \\\hline 8 & & \\\hline 9 & \text { Model } & \\\hline 10 & & \\\hline 11 & \text { Reservation Limit } & 425 \\\hline 12 & \text { Customer Demand } & 400 \\\hline 13 & \text { Reservation Made } & \\\hline 14 & \text { Cancellations } & 20 \\\hline 15 & \text { Customer Arrivals } & \\\hline 16 & \text { Overbooked Customers } & \\\hline\end{array}$
-Which of the following is the excel formula used to estimate overbooked customers?

Definitions:

Accounting Period

A specific time frame for which financial information is reported, commonly a year, quarter, or month.

Equality

A principle in accounting that refers to the balance between total debits and total credits in a double-entry bookkeeping system.

Post-Closing Trial Balance

A list of all active general ledger accounts and their balances after closing entries have been posted, used to check the accuracy of closing procedures.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts, preparing the books for the next period.