On the Home Tab in the Editing Group, You Can

question 19

Multiple Choice

On the Home tab in the Editing group, you can click the Clear button and then click ____ to remove all of the formatting that has been applied to the selected cell.

• A) Remove Formats
• B) Clear Formats
• C) Delete Formats
• D) Undo Formats

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that serve as a global framework for financial reporting.

ASPE

Accounting Standards for Private Enterprises; a set of accounting principles used in Canada for privately held companies.

Historical Cost Principle

An accounting principle that assets should be recorded and presented in the financial statements at their original purchase cost.

Stable Unit

A financial assumption that the value of currency will remain relatively stable over time, affecting long-term economic projections.