What Effect Does the Accounting Number Format Have on the Selected

question 24

Multiple Choice

What effect does the Accounting Number Format have on the selected cells?

• A) Converts alphabetic characters to numbers
• B) Displays cell contents with two decimal places that align vertically
• C) Performs tax calculations
• D) Copies the numbers of one cell to another

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Definitions:

Present Value

The current value of an anticipated future sum of money or cash flow series, considering a certain rate of return.

Future Value

The worth of a particular asset or amount of money at a future date, equal in value to a certain amount in the present.

Retirement Savings Plan (RSP)

A financial arrangement designed to help individuals save for their retirement, often with tax advantages.

Compounded Monthly

The process of earning interest on both the original deposit and the accumulated interest from previous periods, calculated on a monthly basis.