To Find the Number of Orders with A/P Terms Less

question 27

Multiple Choice

To find the number of orders with A/P terms less than 25 months, what Excel formula should be used in A12?

• A) =COUNTIF(F4:F10,"<25")
• B) =COUNT(F4:F10,25)
• C) =AVERAGE(F4:F10,"<25")
• D) =COUNTIF(F4:F10,F5)

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Definitions:

Unearned Interest Income

It is the interest earned on investments or loans that has been recorded but not yet received in cash.

Bargain Purchase Option

A lease agreement provision allowing the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than the expected fair market value.

Fair Value

An estimate of the market value of an asset or liability based on current prices in active markets for similar assets or liabilities.

Lessee

A Lessee is a person or entity who leases an asset from another, the lessor, under a lease agreement.