You Are an Administrative Assistant for the Vice President of an International

question 19

Short Answer

You are an administrative assistant for the vice president of an international bank. The vice president has asked you to prepare a budget for a corporate meeting using an Excel program bundled in the newly acquired Office 2007 suite. Interested in learning about the functionality of Excel, the vice president asks you some questions about your work on the budget. The Excel spreadsheet in progress appears below. What type of document does the Excel program represent?

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Definitions:

Foreign Subsidiary

A company owned or controlled by another company, the parent company, that is based in a different country than the subsidiary.

Functional Currency

The functional currency is the main currency used by a business or economic entity, reflecting the primary economic environment in which it operates.

Opening Inventory

The value of the goods available for sale at the beginning of an accounting period.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually determined by the currency that mainly influences sales prices for goods and services or the country whose competitive forces and regulations most affect the entity's performance.