Case EX 11-1 Venecia Is Using a Worksheet to Track

question 536

Multiple Choice

Case EX 11-1 Venecia is using a worksheet to track her spending each month. So far the worksheet has the information for January up to August. Venecia wants to quickly view the totals for the worksheet but does not want to store that information permanently in the worksheet. She needs to use the ____ feature.

• A) Grand totals
• B) Formulas
• C) Temp Formulas
• D) Subtotal

---

Definitions:

Petty Cash Fund

A small amount of cash kept on hand within a business for minor and immediate expenses.

Internal Control

Initiatives and standards implemented by a firm to assure the correctness of financial and accountancy details, encourage integrity, and obstruct fraudulent activities.

Journal Entries

The method by which all business transactions are initially recorded, using a system of debits and credits, to maintain the financial records of an entity.

Segregation Of Duties

A key internal control that prevents fraud and errors by ensuring that no single individual has control over all aspects of a financial transaction.