COGNITIVE ASSESSMENT You Are Developing a Spreadsheet for Your Small

question 8

Multiple Choice

COGNITIVE ASSESSMENT You are developing a spreadsheet for your small business. You are in the process of removing and adding text. What phase are you in?

• A) creation
• B) editing
• C) formatting
• D) printing

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Definitions:

Inventory

The sum of products and materials a company has in stock for the purpose of selling or utilizing in manufacturing processes.

Physical Inventory

Physical inventory refers to the process of counting all the physical merchandise or stock in a store or warehouse to ensure data accuracy.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income or loss over a specific period of time.

Actual Amount

Refers to the real, exact amount of financial transactions, differing from estimates or budgeted amounts.