What Is Not True About Using the AND Function in a Custom

question 58

Multiple Choice

What is not true about using the AND function in a custom conditional formatting rule?

• A)All the tests must be of the same data type, for example: all numbers or all text.
• B)All the logical tests must be true for the formatting to be applied.
• C)You must have at least two tests in the formula.
• D)You may have as many tests as you need in the formula.

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Definitions:

Financing Activities

Transactions that result in changes in the size and composition of the equity capital or borrowings of the entity.

Common Stock

Equity securities representing ownership in a company, entitling holders to vote on corporate matters and receive dividends.

Deferred Tax Liability

A tax obligation that a company owes in the future due to temporary differences between its financial accounting and tax accounting practices.

Indirect Method

A method used in cash flow statements to adjust net income for non-cash transactions and changes in working capital to calculate cash flow from operating activities.