One of the Great Advantages of ____ References Is That

question 79

Multiple Choice

One of the great advantages of ____ references is that you can quickly generate row and column totals without having to worry about revising the formulas as you copy them to new locations.

• A)cell
• B)relative
• C)absolute
• D)formula

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Definitions:

Adjusting Entries

Entries recorded at the conclusion of an accounting period to adjust the account balances prior to the creation of financial statements.

Revenue And Expense

Key components of an income statement, with revenue representing income earned and expense depicting costs incurred in generating that income.

Correcting Entries

Journal entries made in accounting to correct previously made errors or adjustments in the financial statements.

Accrual Basis

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.