Deck 4: Excell: Use Financial and Lookup Functions, Define Names, Validate Data, and Audit Worksheets

Question 1

A defined name provides a logical reference to ________.

A)data
B)tables
C)functions
D)formulas

Answer 1

A

Question 2

The location within which a defined name is recognized without qualification is referred to as the ________.

A)table array
B)cell range
C)formula
D)scope

Answer 2

D

Question 3

An advantage to naming a range of cells is that you can use the name in a ________.

A)data table
B)formula
C)table array
D)lookup table

Answer 3

B

Question 4

The process of changing the values in cells to see how those changes affect the outcome formulas in a worksheet is called ________.

A)Goal Seek
B)What-If Analysis
C)Lookup
D)Validation

Question 5

In a cell that contains a function,to copy the VALUE to another to cell-rather than the function-use the ________.

A)Paste command
B)Format Painter command
C)Paste Special command to display commands for Paste Values
D)Paste Link command

Question 6

The amount charged for the use of borrowed money is called ________.

A)capital
B)interest
C)Present value (Pv)
D)principal

Question 7

Apply styles to cells,such as Headings and Titles and Data and Model,by using the ________ command in the Styles group.

A)Cell Styles
B)Conditional Formatting
C)Format as Table
D)Merge Styles

Question 8

To see how different interest rates affect a monthly payment,use a ________.

A)two-variable data table
B)one-variable data table
C)defined name
D)table array

Question 9

Each of the following is a rule for defining names except: ________.

A)The letters C or R cannot be defined as a name.
B)The first character of a name must be a letter,underscore,or backslash.
C)Defined names can contain spaces.
D)A defined name can be no longer than 255 characters.

Question 10

The Future value (Fv)at the end of the time period in an Excel function is usually ________ for loans.

A)twice the principal
B)zero
C)half the principal
D)the same as the principal

Question 11

Defined names can contain ________.

A)uppercase and lowercase letters with spaces
B)the letter C by itself
C)the same value as a cell reference,such as M$10
D)uppercase and lowercase letters

Question 12

A method to find a specific value for a cell by adjusting the value of one other cell is ________.

A)lookup
B)protection
C)Goal Seek
D)validation

Question 13

A range of cells that shows how changing certain values in your formula affects the results of those formulas and that makes it easy to calculate multiple versions in one operation is a(n)________.

A)data table
B)column
C)row
D)array

Question 14

The total amount that a series of future payment is worth is called the ________.

A)principal
B)percentage
C)interest
D)rate

Question 15

A word or string of characters in Excel that represents a cell,a range of cells,a formula,or a constant value is called a ________.

A)cell range
B)table array
C)validation list
D)defined name

Question 16

To see how different interest rates and different payment periods will affect a monthly payment,use a ________.

A)two-variable data table
B)one-variable data table
C)defined name
D)table array

Question 17

A data tables is useful for all of the following except for ________.

A)calculating possible values for each argument
B)viewing and compare results
C)determining the Future value (Fv)
D)calculating multiple versions in one operation

Question 18

In the Excel PMT function,the term used to indicate the interest rate for a loan is called ________.

A)Present value (Pv)
B)rate
C)Future value (Fv)
D)payment period

Question 19

Using various interest rates to determine the amount of loan payments is an example of using ________.

A)What-If Analysis
B)Protection
C)Validation
D)Lookup

Question 20

All of the following are methods to define a name for a cell or group of cells except: ________.

A)Select the range,open Name Manager,click New,and then type the name.
B)Select the range,click in the Formula bar,and then type the name.
C)Select the range,click in the Name box,and then type the name.
D)Select the range,click the Define Name button,and then type the name.

Question 21

A ________ is a list of values that are acceptable for a range of cells.

A)table array
B)data table
C)validation list
D)cell range

Question 22

Excel's Formula Auditing features can show ________ between cells and formulas to ensure that formulas are logical and correct and also to resolve error messages.

A)relationships
B)links
C)pathways
D)sequences

Question 23

________ functions look up a value in a defined range of cells located in another part of the workbook to find a corresponding value.

A)Financial
B)Lookup
C)Statistical
D)Logical

Question 24

________ displays arrows that indicate what cells are affected by the value of the currently selected cell.

A)Trace Dependents command
B)Trace Precedents command
C)Tracer Arrow
D)Trace Error command

Question 25

________ cells are cells that are referred to by a formula in another cell.

A)Dependent
B)Precedent
C)Trace
D)Related

Question 26

A technique to improve accuracy when entering data in a worksheet by controlling the type of data or the values that can be entered is called ________.

A)Goal Seek
B)Data validation
C)Data protection
D)What-If Analysis

Question 27

When you start typing a formula,such as =SUM(B Excel will display the ________,which contains all of Excel's built in functions starting with the letter B.

A)table array
B)Formula AutoComplete list
C)defined name
D)AutoFill

Question 28

An indicator that shows the relationship between the active cell and its related cell is called a(n)________.

A)tracer arrow
B)tracking arrow
C)error triangle
D)error diamond

Question 29

A command that displays arrows to indicate what cells affect the value of the cell that is selected is the ________.

A)Trace Dependents command
B)Trace Precedents command
C)Trace Error command
D)Tracer command

Question 30

The Error Checking button displays as a ________.

A)purple arrow
B)blue circle
C)red square
D)yellow diamond

Question 31

For lookup functions to work properly,the data in the table array must be sorted ________.

A)by color
B)in reverse alphabetic order
C)in descending order
D)in ascending order

Question 32

A ________ triangle in the upper left corner of a cell indicates that the formula in the cell is suspect for some reason and could be a potential error.

A)orange
B)green
C)red
D)blue

Question 33

In a lookup formula,the defined range is referred to as the ________.

A)table array
B)named range
C)validation list
D)defined name

Question 34

________ is the process of examining a worksheet for errors in formulas.

A)Segmenting
B)Tracing
C)Defining
D)Auditing

Question 35

Use the ________ command to locate and resolve an error in a formula.

A)Find Error
B)Locate Error
C)Trace Error
D)Fix Error

Question 36

The ________ function looks up values in a table array arranged in horizontal rows.

A)VLOOKUP
B)MATCH
C)LOOKUP
D)HLOOKUP

Question 37

An Excel function that looks up values in a table array arranged as vertical columns is the ________ function.

A)COLUMN
B)VLOOKUP
C)HLOOKUP
D)MATCH

Question 38

In the Data Validation dialog box,you can create a ________ that will display when the cell is selected and that provides instructions to the person entering data.

A)defined name
B)ScreenTip
C)cell reference
D)table array

Question 39

Cells that are referred to by a formula in another cell are called ________.

A)dependent cells
B)precedent cells
C)Trace dependents
D)Trace precedents

Question 40

The ________ command checks for common errors that occur when using formulas.

A)Hide Error
B)Audit
C)Error Checking
D)Seek Error

Question 41

A one-variable data table will allow you to see how different interest rates and different payment periods will affect a monthly payment.

Question 42

Naming cells has no effect on the displayed or underlying values.

Question 43

If you create a defined name and then decide that you no longer need it,you can delete the name and its associated range reference.

Question 44

Goal Seek is part of a suite of data tools used for What-If Analysis.

Question 45

With Goal Seek,you can work backward from the desired outcome to find the number necessary to achieve your goal.

Question 46

When borrowing money,the interest rate and number of periods is quoted in months.

Question 47

Goal Seek is a method to find a specific value for a cell by adjusting the value of another cell.

Question 48

When a new row is inserted into a named range,Excel adjusts formulas accordingly.

Question 49

When creating a data table to calculate a payment,the PMT function must be entered in the upper left corner of the range of data.

Question 50

You cannot insert new data into a named range.

Question 51

An advantage to naming a range of cells is that you can use the name in a formula in other parts of your workbook.

Question 52

The PMT function calculates the payment for a loan based on constant payments and at a constant interest rate.

Question 53

Data tables are useful to to view and compare the results of using different values in a formula.

Question 54

In a Lookup formula,the defined range is referred to as the table array.

Question 55

Present value (Pv)represents the amount of the loan before any payments are made.

Question 56

The HLOOKUP function looks up values in a table array arranged in vertical columns.

Question 57

VLOOKUP function looks up values in a table array arranged as horizontal rows.

Question 58

Data tables make it easy to calculate multiple versions in one operation,and then to view and compare the results of all the different variations.

Question 59

Goal Seek is useful to determine how much you can borrow to stay within a budget.

Question 60

The data in a table array,which can be numbers or text,must be sorted in ascending order.

Question 61

The Watch Window is useful to monitor cells in one part of a workbook while working on another part of the workbook.

Question 62

________ is a method to find a specific value for a cell by adjusting the value of one other cell.

Question 63

The Watch Window displays the results of specified cells.

Question 64

Data validation improves the accuracy of the person entering data into a worksheet.

Question 65

The Error Checking command checks for common errors that occur in formulas.

Question 66

Excel includes a group of Formula Auditing features,which consists of tools and commands that help you to check a worksheet for errors.

Question 67

A(n)________ data table changes the values in two cells.

Question 68

A(n)________ data table changes the value in only one cell.

Question 69

When you use a(n)________ in a formula,the result is the same as if you typed the cell reference.

Question 70

A method to find a specific value for a cell by adjusting the value of another cell is ________.

Question 71

________ look up a value in a defined range of cells located in another part of the workbook to find a corresponding value.

Question 72

When you borrow money,the amount charged to you for your use of the borrowed money is called ________.

Question 73

Auditing is the process of examining a worksheet for errors in formulas.

Question 74

________ are prebuilt formulas that perform common business calculations such as calculating a loan payment on a vehicle.

Question 75

A defined name that is distinctive and easy to remember,typically describes the ________ of the selected cells.

Question 76

Present value (Pv)-the total amount that a series of future payments is worth now-is also referred to as the ________.

Question 77

In a lookup formula,the defined range is referred to as the ________.

Question 78

A ________ list is a list of values that are acceptable for a group of cells.

Question 79

The first step in using a lookup function is to define the range of cells that will serve as the table array.

Question 80

Goal Seek is part of a suite of data tools used for ________.