Case EX 2-2 Josh Wants to Apply a Cell Style

question 11

Multiple Choice

Case EX 2-2 Josh wants to apply a cell style to certain cells in his worksheet. Josh previews some of the styles and clicks one to apply it to the cell. He now wants to remove it. To remove a style from the selected cell, he should simply click ____ in the Good, Bad and Neutral section of the Cell Styles gallery.

• A) Neutral
• B) Good
• C) Bad
• D) Normal

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Definitions:

Accrual Basis

Accrual Basis is an accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash is received or paid.

Expenses Recognized

Costs that have been incurred in an accounting period and are matched with revenues in the same period, affecting a company's income statement.

Expenses Paid

Outflows or other using-up of assets or incurring of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity’s ongoing major operations.

Liabilities

Liabilities refer to the financial obligations or debts that a company owes to others, which must be paid back in the future.