Case 9-2 Once Each Month, the Accounting Staff Meets in the Conference

question 36

Multiple Choice

Case 9-2
Once each month, the accounting staff meets in the conference room for a catered lunch and a discussion of ways to improve efficiency using the department's software tools. Today's meeting covers a few of Excel's advanced features. As the senior accountant and most experienced Excel user in the department, you have volunteered to mediate the discussion.
-Mel, who develops budgets and financial forecasts, asks you to explain the difference between using Goal Seek and Solver to find solutions to complex worksheet projections. You tell Mel that ____.

• A) he should forget about using Goal Seek or Solver; he needs to focus on using the trial and error method instead
• B) the Solver feature finds a solution by manipulating a single variable while Goal Seek uses multiple constrained variables to find a solution
• C) a better approach to finding solutions to complex worksheet projections is to set data validation rules for each cell in a worksheet
• D) the Goal Seek feature finds a solution by manipulating a single variable while Solver uses multiple constrained variables to find a solution

Analyze the rationale and potential for businesses to choose franchising as an expansion strategy.

Grasp the adaptation strategies by franchisors to meet changing customer demands.

Identify the best sources of information for evaluating a franchise opportunity.

Understand the role of disclosure statements in franchising and the mandated requirements.

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Definitions:

Operating Cycle

The average time period between the acquisition of inventory by a business and the receipt of cash from the sale of that inventory.

Acquisition Of Inventory

The process of obtaining goods and materials for a company's operations, which could be for immediate use or to keep as stock for future sale or production.

Marketable Securities

Financial instruments that can easily be converted into cash, typically with high liquidity and short maturity periods.

Short-Term Financing

Borrowing options intended for use over a short period, often to support the day-to-day operations of a business.