Accounting 1 - 1.00

Data can be entered into a cell as a numeric label ( used to identify or name information ) by first entering which character ?

• : (colon)

• • + ( plus sign )

• ' ( apostrophe)

• $ (dollar sign)

The standards, conventions, and rules that accountants follow to prepare financial reports are known as :

• generally accepted accounting principles

• accounting and audit procedures

• management accounting

• executive accounting

Which term refers to the owner having full responsibility for company debts and obligations

• limited liability

• stock obligation

• unlimited liability

• taxation obligation

To get all columns to have a consistent number of decimals, what command format should be used?

• general

• percentage

• increase indent

• increase decimal

Samantha needs to total the values in cells A1 to A10. what is the most efficient method to find the answer?

• formula

• function

• label

• value

Which formula is used to calculate the 6% tax in cell F14?

• = 3,192.60 x 6%

• = F11*.06

• =6%/F11

• =F11* F12

Tameka wants to change the orientation of her spreadsheet from landscape to portrait. On which tab of the Excel ribbon will this command be found?

• formulas page

• insert page

• page layout

• review

In which type of business are operations and production usually unaffected when ownership is transferred?

• corporation

• partnership

• sole proprietorship

• limited liability company

The accounting assumption that a business is expected to survive and operate indefinitely is called a :

• business entity

• capital concern

• charter entity

• going concern

In which type of business ownership structure does each owner in the group risk losing his/her personal property even though responsibilities are shared?

• limited liability company

• sole proprietorship

• partnership

• corporation