You Could Use Both A3>b9 or B9<A3 as the Test

question 77

True/False

You could use both A3>b9 or B9<A3 as the test in an IF function and get the same results.You would just switch the second and third arguments.

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Definitions:

Expense Recognition Principle

An accounting principle that expenses should be recognized and recorded at the time they are incurred, not necessarily when cash is paid.

Recognition Principle

An accounting concept dictating that revenue should be recognized in the income statement when it is realized or realizable and earned, not necessarily when cash is received.

Time Period Principle

An accounting principle stating that financial reporting should be done in regular intervals to ensure relevance and reliability.

Contra Account

An account used in an accounting system to offset a related account, commonly used to record depreciation, allowances, and discounts.