Why Is the ROUND Function Used in Excel

question 5

Multiple Choice

Why is the ROUND function used in Excel?

• A) to ensure that the values generated are whole numbers
• B) to ensure that the values generated are multiples of ten
• C) to ensure that the values generated are always positive
• D) to ensure that the values are even numbers

Understand the reasons errors occur in financial statements and how they are addressed.

Assess the materiality of items based on their size and nature in financial reporting.

Describe the required disclosures for voluntary changes in accounting policies according to AASB 108/IAS 8.

Distinguish between changes in accounting estimates and errors, and understand their respective treatment in financial statements.

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Definitions:

Theory Y

The assumption that people are willing to work, like responsibility, and are self-directed and creative.

Managers

Individuals in an organization responsible for directing and overseeing the work of a group of people toward the achievement of goals.

Hawthorne Studies

A series of studies conducted in the early 20th century focusing on worker productivity, leading to insights on the importance of social relations and worker attention.

Compensation

Payment or benefits provided to employees in exchange for their labor or services.