What Is the Proper Format for Creating an External Reference

question 27

Multiple Choice

What is the proper format for creating an external reference with no spaces in the file name located in the same folder as the destination file?

• A)[WorkbookName]"WorksheetName"!RangeOfCells
• B)[WorkbookName]'WorksheetName'!RangeOfCells
• C)WorksheetName!RangeOfCells
• D)[WorkbookName]WorksheetName!RangeOfCells

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Definitions:

Cost Flow Assumption

A method adopted by businesses to value inventory and determine the cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out).

FIFO

"First In, First Out," an inventory valuation method assuming that the first items purchased are the first ones sold, affecting the cost of goods sold and ending inventory value.

Specific Identification

An accounting method used for inventory costing, where each item in inventory is identified and its cost is individually recorded.

LIFO

"Last In, First Out," a method of inventory valuation where the most recently produced or acquired items are the first to be expensed.