Using the % of Grand Total Calculation Option Will Display

question 11

Multiple Choice

Using the % of Grand Total Calculation Option will display the value as ________.

• A)a percentage of the grand total
• B)a percentage of the column total
• C)a percentage of the row total
• D)a percentage of the parent level row

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Definitions:

Adjustment

A change made to the book value of an asset or liability to accurately reflect its value.

Subsidiary

A company that is completely or partly owned and partly or wholly controlled by another company.

FIFO Inventory Reporting

An approach to reporting inventory where the oldest stock is recorded as sold first; reiterates the First-In, First-Out method in financial statements.

Consistent Application

The principle that accounting rules and methods should be applied the same way in each accounting period to ensure comparability of financial statements.