If You Insert an ActiveX Text Box in a Worksheet

question 256

True/False

If you insert an ActiveX text box in a worksheet, you must link it to a cell on the same worksheet.

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Definitions:

Income Summary

An account used in the closing process that summarizes revenues and expenses for a period, transferring the net income or loss to the owner's equity.

Revenue

The aggregate financial gain acquired by a company from its essential sales activities involving goods or services.

Credit Normal Balance

The usual balance side for credit accounts, typically seen in liabilities, equity, and revenue accounts.

Adjusting Entry

Journal entries made at the end of an accounting period to update accounts for accurate financial reporting.