Question 1

You can enter a formula with the AVERAGE, COUNT, MAX, or MIN function in a selected cell by clicking the Sum button arrow in the ____ group on the Home tab, clicking the function name, selecting the appropriate range, and then pressing the Enter key.
A) Editing
B) Formulas
C) Cells
D) Worksheet

Accepted Answer

The correct group on the Home tab for entering formulas with the AVERAGE, COUNT, MAX, or MIN function through the Sum button is the Editing group.

Question 2

The AND function returns the result of ____ if any or all of the arguments are false.
A) TRUE
B) FALSE
C) ERROR
D) none of the above

Accepted Answer

The AND function returns the result of FALSE if any or all of the arguments are false.

Question 3

The ____________________ is the value the function uses to perform a calculation, including a number, text, or a cell reference that acts as an operand.

Accepted Answer

The answer of The ____________________ is the value the function...

Question 4

The function ____ returns the estimated variance of the numbers in the range.
A) VAR(number1,number2...)
B) EVAR(number1,number2...)
C) ESTVAR(number1,number2...)
D) EV(number1,number2...)

Accepted Answer

The function VAR(number1,number2...) is used in various spreadsheet programs like Microsoft Excel to calculate the variance based on a sample from a population, thus estimating the variance of the numbers in the range provided.

Question 5

Date and time functions can be used to convert serial numbers to a ____.
A) month
B) day
C) year
D) all of the above

Accepted Answer

Date and time functions can be used to convert serial numbers to all of the above (month, day, year) depending on the specific function used. For example, the function =MONTH(serial number) will return the month value, =DAY(serial number) will return the day value, and =YEAR(serial number) will return the year value.

Question 6

The ____ function repeats the text in the specified cell a specified number of times.
A) MIRROR
B) REPT
C) AGAIN
D) OVER

Accepted Answer

The REPT function is designed to repeat the text in a specified cell a specific number of times. This is typically used to create a repeated string of characters, such as a series of dashes or underscores to create a divider line. None of the other options listed have a function to repeat text in Excel.

Question 7

The ____ function returns the current date and time based on the computer's date and time settings.
A) NOW( )
B) WHEN( )
C) CURRENT( )
D) DATE( )

Accepted Answer

The NOW( ) function is specifically designed to return the current date and time based on the computer's date and time settings, making it the best choice for this scenario. The other options, such as WHEN( ) and CURRENT( ), do not have this specific functionality and may not return the current date and time accurately. DATE( ) only returns the current date, not the time.

Question 8

FIGURE EX 5-1  In Figure EX 5-1 above, the Pmt figure is -250. The negative number means ____.
A) the entry is income
B) the entry is a payment
C) there is an error
D) the person is behind on their payments

Accepted Answer

The negative Pmt figure (-250) indicates a payment, as payments are typically represented as negative values in financial tables and equations.

Question 9

In the IF function, the third argument determines the value that appears in the cell if the logical test is ____.
A) false
B) true
C) an error
D) none of the above

Accepted Answer

The third argument of the IF function determines the value that appears in the cell if the logical test is false. Therefore, the correct choice is A.

Question 10

The ____ function replaces existing text in a specified cell with new text.
A) FIND AND REPLACE
B) WRITE OVER
C) SUBSTITUTE
D) REPLACE

Accepted Answer

The answer of The ____ function replaces existing text in...

Question 11

In the IF function, the second argument determines the value that appears in the cell if the logical test is ____.
A) false
B) true
C) an error
D) none of the above

Accepted Answer

The second argument in the IF function specifies the value that appears if the logical test evaluates to true.

Question 12

FIGURE EX 5-1  In Figure EX 5-1 above, the annual interest rate is ____.
A) .015%
B) 0.15%
C) 1.5%
D) 15%

Accepted Answer

The annual interest rate is given as 1.5% above the bars in the graph.

Question 13

The present value of a loan based on equal payments is written as ____.
A) PV(rate,nper,pmt,fv,type)
B) PVAL(rate,nper,pmt,fv,type)
C) PV(rate,nper,pmt,term)
D) PVAL(rate,nper,pmt,term)

Accepted Answer

The correct function to calculate the present value of a loan based on equal payments is PV(rate,nper,pmt,fv,type).

Question 14

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. Cheryl has found the formula she wants to use by using Formula AutoComplete. How can she access a Screen Tip to guide her in entering the necessary arguments?
A) Double-click the name of the function
B) Double-click anywhere inside the worksheet
C) Double-click anywhere outside the worksheet
D) None of the above

Accepted Answer

To access a Screen Tip to guide her in entering the necessary arguments, Cheryl should double-click the name of the function in Formula AutoComplete.

Question 15

The IFERROR function is written as ____.
A) IFERROR(value_if_error,value)
B) IFERROR(value,value_if_error)
C) IFERROR(value_if_error)
D) IFERROR(value)

Accepted Answer

The correct syntax for the IFERROR function is IFERROR(value, value_if_error), where "value" is the expression to be checked for an error, and "value_if_error" is the value to return if an error is found.

Question 16

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. What should Cheryl do to access Formula AutoComplete to help her write her formulas?
A) Type the first letters in a cell
B) Click Formula AutoComplete on the Ribbon
C) Open the AutoComplete Wizard by right-clicking on the active cell
D) None of the above

Accepted Answer

To access Formula AutoComplete, Cheryl should start typing the first few letters of the formula in a cell. Excel will then display a list of functions and defined names that match the letters she has typed, allowing her to select the desired formula from the list.

Question 17

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to find the average of a range of numbers. What would be an example of a formula written correctly?
A) =AVG(E4,E9)
B) =AVERAGE(E4:E9)
C) =AVG(E4:E9)
D) +AVERAGE(E4:E9)

Accepted Answer

The correct function to find the average of a range of numbers in Excel is AVERAGE. Option B correctly uses the AVERAGE function and specifies the range of numbers as E4:E9.

Question 18

An example of the function that returns the number of cells in a range of cells that contain data is ____.
A) =NUMBER(B4)
B) =COUNT(B4)
C) =NUMBER(B4:B15)
D) =COUNT(B4:B15)

Accepted Answer

The function that returns the number of cells in a range of cells that contain data is COUNT, which is option D. OPTION A is not a valid function in Excel. OPTION B and C use an incorrect function name, and they will cause an error in Excel. So, the best choice is D =COUNT(B4:B15).

Question 19

In a PMT function, the argument indicated by fv refers to ____.
A) future value
B) past value
C) favorite value
D) fixed value

Accepted Answer

The argument fv in a PMT function stands for future value, which refers to the expected value of an investment or loan at some point in the future.

Question 20

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to round some figures in a worksheet. The Round function is considered to be a _____ function.
A) date and time
B) financial
C) mathematical
D) statistical

Accepted Answer

The Round function is a mathematical function used to round numbers to a desired number of decimal places.

Quiz 2: Microsoft Excel Basics

You can enter a formula with the AVERAGE, COUNT, MAX, or MIN function in a selected cell by clicking the Sum button arrow in the ____ group on the Home tab, clicking the function name, selecting the appropriate range, and then pressing the Enter key.

The AND function returns the result of ____ if any or all of the arguments are false.

The ____________________ is the value the function uses to perform a calculation, including a number, text, or a cell reference that acts as an operand.

The function ____ returns the estimated variance of the numbers in the range.

Date and time functions can be used to convert serial numbers to a ____.

The ____ function repeats the text in the specified cell a specified number of times.

The ____ function returns the current date and time based on the computer's date and time settings.

FIGURE EX 5-1 In Figure EX 5-1 above, the Pmt figure is -250. The negative number means ____.

In the IF function, the third argument determines the value that appears in the cell if the logical test is ____.

The ____ function replaces existing text in a specified cell with new text.

In the IF function, the second argument determines the value that appears in the cell if the logical test is ____.

FIGURE EX 5-1 In Figure EX 5-1 above, the annual interest rate is ____.

The present value of a loan based on equal payments is written as ____.

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. Cheryl has found the formula she wants to use by using Formula AutoComplete. How can she access a Screen Tip to guide her in entering the necessary arguments?

The IFERROR function is written as ____.

Case EX 5-1 Cheryl is planning to use Formula AutoComplete to help her enter some formulas in her new worksheet. What should Cheryl do to access Formula AutoComplete to help her write her formulas?

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to find the average of a range of numbers. What would be an example of a formula written correctly?

An example of the function that returns the number of cells in a range of cells that contain data is ____.

In a PMT function, the argument indicated by fv refers to ____.

Case EX 5-2 Sam is using the functions within Excel to complete questions in a school homework assignment. Sam needs to round some figures in a worksheet. The Round function is considered to be a _____ function.