If an Excel Table Is Likely to Change, and You

question 8

Multiple Choice

If an Excel table is likely to change, and you want to make sure that its information is updated in any files in which it is used, it is best to ____.

• A) embed the table
• B) link the table
• C) paste the table as a picture
• D) manual re-paste the table each time it is updated

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Definitions:

Unrecorded Expense

A cost or liability that has been incurred but not yet documented or included in the financial records or statements of a company.

Unrecorded Revenue

Earnings from completed transactions or delivered goods/services that have not yet been documented in the financial accounts.

GAAP

Generally Accepted Accounting Principles, which are a common set of accounting rules and standards used in the United States for financial reporting.

Accrual Basis

An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when the cash transactions occur.