What Is the First Argument of an IF Function

question 72

Multiple Choice

What is the first argument of an IF function?

• A)Value_if_false
• B)Logical_test
• C)Value_if_true
• D)Lookup_value

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Definitions:

Straight-Line Method

A depreciation method that allocates the cost of an asset evenly over its useful life.

FASB

The Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards in the US.

IASB

International Accounting Standards Board, the organization responsible for developing and publishing international financial reporting standards.

Right-Of-Use Asset

Right-of-use asset is a balance sheet item that represents a lessee’s right to use an asset over the lease term under the new accounting standards.