Which of the Following Controls Within a Spreadsheet Would Address

question 416

Multiple Choice

Which of the following controls within a spreadsheet would address the risk of logic errors? 1. The spreadsheet contains formulas that foot and cross-foot data. 2. The spreadsheet is locked to protect cell formulas from being inadvertently changed. 3. Spreadsheets are included in nightly backup processes. 4. Check-in and check-out software is used to manage version control.

• A) 1 and 2 only
• B) 1 and 3 only
• C) 2 and 4 only
• D) 3 and 4 only

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Definitions:

Cumulative Feature

A characteristic of certain financial instruments or policies that allows for the accumulation of unpaid amounts or benefits over time.

Preferred Stockholders

Investors who own preferred shares in a company, which typically provide dividends before common stock and have priority over common shareholders in asset liquidation.

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, representing the value at which it is issued.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock and often pays dividends.