You Can Use Named Ranges in Formulas to Make the Formulas

question 595

True/False

You can use named ranges in formulas to make the formulas easier to build and to reduce formula errors.

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Definitions:

Gross Method

An accounting method for recording purchases at the invoice's gross amount before any trade discounts are subtracted.

Net Method

A way to record purchases of inventory with a discount for early payment, where the purchase is recorded at the net of the discount and the discount is lost if not taken.

Net Approach Method

A pricing method where the net price after all discounts is shown in the invoice.

Periodic Inventory System

An inventory valuation method where the inventory is physically counted at specific intervals and the cost of goods sold is calculated thereafter.