Practice Introduction (2.1) - Accounting Application of Electronic Spreadsheet

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8 questions

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6 sample questions

Question 1.
What is an electronic spreadsheet?
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Think about how they replace paper ledgers.
Question 2.
List the basic structure of an electronic spreadsheet.
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Consider how the layout is organized.
3Question 3.
What is a primary function of an electronic spreadsheet?
- Data visualization
- Automating calculations
- Printing reports
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Think about what makes spreadsheets efficient.
4Question 4.
True or False: A trial balance shows only debit balances.
- True
- False
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What is the purpose of a trial balance?
Question 5.
Prepare a mock trial balance for the fictional company 'ABC Ltd.' with the following figures: Cash: ₹30,000, Capital: ₹20,000, Sales: ₹50,000, Purchases: ₹40,000.
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Start by listing the balances accordingly.
Question 6.
Explain the impact of a formula error in a trial balance. How might it affect an accountant's decision-making?
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Consider the ripple effects of mistakes in financial reporting.

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