Identify the Letter of the Choice That Best Matches the Phrase

question 61

Multiple Choice

Identify the letter of the choice that best matches the phrase or definition.
-A function that displays the highest value in a range.

• A)ALT+ENTER
• B)order of operations
• C)circular reference
• D)MAX
• E)CTRL+C
• F)CTRL+1
• G)function
• H)F7
• I)CTRL+ACCENT MARK (`)
• J)CTRL+V

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Definitions:

Deposits In Transit

Funds that have been received and recorded by a business, but not yet processed or recorded by the bank.

Timing Difference

Differences between when transactions affect the book balances and bank balances, often seen in accounting reconciliations.

Credit Memo

A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice.

Debit Memo

A document issued by a bank to indicate a deduction from the account holder's balance, often for service fees or adjustments.