Excel Cannot Save Workbooks for Previous Versions of Excel

question 64

True/False

Excel cannot save workbooks for previous versions of Excel.

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Definitions:

Sales Return

Goods returned by the customer to the seller for a refund or credit due to reasons like defects or dissatisfaction.

General Journal

A comprehensive ledger that records all the day-to-day financial transactions of a business.

Accounts Payable

Liabilities of a business that represent amounts owed to creditors for goods and services purchased on credit.

Accounting Information System

A system designed to collect, store, and process financial and accounting data, and produce informational reports for decision making.