Practice Summary (12) - 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 of paper ledgers but in digital form.
Question 2.
List two features of electronic spreadsheets.
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Consider functions that help in accounting.
3Question 3.
What defines an electronic spreadsheet?
- A paper ledger
- A digital grid for data
- A calculator
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Think about what makes it different from paper.
4Question 4.
True or False: The SUM function is used to calculate the average of numbers.
- True
- False
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Recall the specific purpose of each function.
Question 5.
A company has the following ledger balances: Cash ₹30,000, Capital ₹70,000, Purchases ₹20,000, Sales ₹50,000. Create the trial balance and identify if it is balanced.
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Summarize each side to see if they match.
Question 6.
You find an error in your balance calculated with a formula. What steps would you take to identify and correct the error?
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Look for any misplaced cell references.

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