By Default, Excel for Mac Uses a ____ Year Value

question 50

Multiple Choice

By default, Excel for Mac uses a ____ year value.

• A)two-digit
• B)four-digit
• C)hexadecimal
• D)none; there is no default value for years to an Excel for Mac.

Evaluate the financial performance of a company using budgetary data.

Understand the concepts of fixed and variable costs in budgeting.

Learn to calculate and interpret the planning budget.

Understand the flexible budget and its adjustments.

---

Definitions:

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts is a contra-asset account that reflects the estimated amount of accounts receivable which may not be collectible.

Credit Sales

Transactions in which goods or services are sold and payment is deferred, allowing customers to purchase products or services on account.

Uncollectible Accounts

Accounts receivable that are recognized as uncollectible losses due to the inability to collect from the debtor.

Allowance Method

An accounting technique used to estimate and account for bad debts (uncollectible receivables) based on historical data or economic conditions.