Critical Thinking Questions Case 3-2 George Runs a Mid-Size Accounting

question 10

Multiple Choice

Critical Thinking Questions Case 3-2 George runs a mid-size accounting practice. He has recently upgraded to Excel for some aspects of his business. He expects sales to grow in the next few months during tax season. After that, he would like to begin upgrading some of the equipment and furniture for the employees in his office. He will start with the Reception area, which has the most visibility. If sales reach a certain amount by the end of April, George will purchase a desk, chair, computer, and software upgrade for the Receptionist. Otherwise, George will just purchase the desk and chair. How should George determine this in the worksheet?

• A)use a relative reference
• B)use the IF function
• C)use an absolute reference
• D)use the NOW function

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Definitions:

Lease

A contractual agreement where one party (the lessor) grants another party (the lessee) the right to use an asset for a specified period in exchange for payment.

Electronic Commerce

The buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.

Ucc Articles

UCC Articles refer to the sections of the Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

Unconscionability

A legal doctrine that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are contrary to good conscience.