Case-Based Critical Thinking Questions Case 8-2 Your Boss in the Human

question 37

Multiple Choice

Case-Based Critical Thinking Questions Case 8-2 Your boss in the human resources department asks you to write a function that calculates the length of time that employees have been with the firm, using the DATEDIF function. Assume that C2 contains the hire date for a given employee and that cell $AE$2 contains the cut-off date against which to compare the hire date to determine length of service. For a separate service recognition program, you need to calculate the length of service in complete years. What is the correct formula?

• A)=DATEDIF(C2, $AE$2, "yr")
• B)=DATEDIF($AE$2, C2, "year")
• C)=DATEDIF($AE$2, C2, "yr")
• D)=DATEDIF(C2, $AE$2, "y")

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Definitions:

Credit

A financial term that refers to the provision of resources (such as funds) by one party to another, where the second party does not repay the first party immediately but incurs a debt and is usually obliged to pay interest.

Accounting Cycle

The process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation on the financial statements.

Accounting Period

A specified duration of time used for financial reporting and analysis purposes, such as a fiscal quarter or year, over which financial results are calculated and reported.

Recurring Transactions

Transactions that occur regularly, such as monthly subscriptions or utility payments, which can be automated in accounting software.