Cory Knows How to Use Spreadsheet Software to Create Reports

question 77

Multiple Choice

Cory knows how to use spreadsheet software to create reports that his managers find useful.This ability indicates Cory's

• A) caring.
• B) attributes.
• C) competence.
• D) goals.
• E) character.

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Definitions:

Percentage of Sales Method

A financial forecasting model that bases future sales, expenses, and other financial elements as a percentage of sales revenue.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Estimated Amount

A projection or approximation of a financial figure often used in budgeting or forecasting.

Allowance Method

A method used in accounting to estimate and account for bad debts, representing the amount of accounts receivable that may not be collected.