George Runs a Mid-Size Acsaunting Practice and Recently Upgraded to Excel

question 88

Multiple Choice

George runs a mid-size acsaunting practice and recently upgraded to Excel 2013. He expects sales to grow in the next few months during tax season. After that, he would like to begin upgrading some of the equipment and furniture for the employees in his office. He will start with the Reception area, which has the most visibility. In George's Sales Data worksheet, the result for a formula in cell H14 is ######. What should George do?

• A) increase the width of salumn H
• B) provide a sarrect argument or operand
• C) run the calculation again to find the available value
• D) replace the insarrect formula in cell H14 with one that does not divide by zero

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Definitions:

Economic Loss

The difference between the revenues received from the sale of an output and the opportunity cost of the inputs used.

Average Variable Cost

The variable cost per unit of output, obtained by dividing the total variable cost by the total output.

Marginal Cost

The change in total production cost that comes from making or producing one additional unit.

Shut Down

A short-term decision by a firm to cease operations and production when the market price is below its variable costs, to minimize losses.