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.

Accepted Answer

A)   Editing
B)   Formulas
C)   Cells
D)   Worksheet

Question 2

The IFERROR function is written as ____.

Accepted Answer

A)   IFERROR(value_if_error,value) 
B)   IFERROR(value,value_if_error) 
C)   IFERROR(value_if_error) 
D)   IFERROR(value)

Question 3

An example of a square root function written correctly is ____.

Accepted Answer

A)   SQRT(C4) 
B)   =SQROOT(C4) 
C)   =SQRT(C4) 
D)   SQROOT(C4)

Question 4

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

Accepted Answer

A)   the entry is income
B)   the entry is a payment
C)   there is an error
D)   the person is behind on their payments

Question 5

The monthly interest rate is determined by dividing the annual interest rate by 12 ____________________.

Accepted Answer

The answer of The monthly interest rate is determined by...

Question 6

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?

Accepted Answer

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

Question 7

You can use the SUM function to total the values stored in up to 255 non-adjacent cells or ranges.

Accepted Answer

A) True 
 B)False

Question 8

In the IF function, the first argument sets a condition for comparison, called a relative test.

Accepted Answer

A) True 
 B)False

Question 9

If you know the function you want to enter, you can click the appropriate category button in the ____ group on the Formulas tab of the Ribbon.

Accepted Answer

A)   Function Library
B)   Formula
C)   Data
D)   Calculations

Question 10

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

Accepted Answer

A)   MIRROR
B)   REPT
C)   AGAIN
D)   OVER

Question 11

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

Accepted Answer

A)   month
B)   day
C)   year
D)   all of the above

Question 12

You can use the Insert Function dialog box to find a specific function. In the ____ box, type a brief description of what you want to do. Then, click Go.

Accepted Answer

A)   Directory
B)   Find what
C)   Search for a function
D)   Go to

Question 13

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?

Accepted Answer

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

Question 14

Match between columns
                        Premises: Functions used to describe large quantities of data.
Functions that are used to format and work with cell contents.
Functions used to analyze loans and investments.
Functions, such as the square root functions, that manipulate quantitative data in a worksheet.
Functions that are used to insert dates and times in a worksheet.

Accepted Answer

The Answer of Date and time functions and Financial functions is...

Question 15

When you type =s , all functions that begin with the letter s appear in the list box, such as SEARCH, SECON, and SERISSUM.

Accepted Answer

A) True 
 B)False

Question 16

If a function contains more than one argument, semicolons separate the arguments.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

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)

Question 18

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

Accepted Answer

A)   false
B)   true
C)   an error
D)   none of the above

Question 19

As an example of a financial function, =____________________(.1,5,-500) displays the current value of five payments of $500 at a 10% interest rate.

Accepted Answer

The answer of As an example of a financial function,...

Question 20

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

Accepted Answer

A)   =NUMBER(B4) 
B)   =COUNT(B4) 
C)   =NUMBER(B4:B15) 
D)   =COUNT(B4:B15)

Exam 27: Using Functions

Identify the letter of the choice that best matches the phrase or definition.

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

Correct Answer
verified

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?

Correct Answer
verified

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

Correct Answer
verified

In the IF function, the first argument sets a condition for comparison, called a relative test.

Correct Answer
verified

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.

Correct Answer
verified

When you type =s , all functions that begin with the letter s appear in the list box, such as SEARCH, SECON, and SERISSUM.

Correct Answer
verified

You can use the Insert Function dialog box to find a specific function. In the ____ box, type a brief description of what you want to do. Then, click Go.

Correct Answer
verified

The monthly interest rate is determined by dividing the annual interest rate by 12 ____________________.

Correct Answer
verified

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

Correct Answer
verified

The IFERROR function is written as ____.

Correct Answer
verified

An example of a square root function written correctly is ____.

Correct Answer
verified

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?

Correct Answer
verified

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

Correct Answer
verified

If a function contains more than one argument, semicolons separate the arguments.

Correct Answer
verified

If you know the function you want to enter, you can click the appropriate category button in the ____ group on the Formulas tab of the Ribbon.

Correct Answer
verified

You can use the SUM function to total the values stored in up to 255 non-adjacent cells or ranges.

Correct Answer
verified

As an example of a financial function, =____________________(.1,5,-500) displays the current value of five payments of $500 at a 10% interest rate.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Exam 27: Using Functions

Identify the letter of the choice that best matches the phrase or definition.

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the IF function, the first argument sets a condition for comparison, called a relative test.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

When you type =s , all functions that begin with the letter s appear in the list box, such as SEARCH, SECON, and SERISSUM.

Correct AnswerverifiedShow Answer

You can use the Insert Function dialog box to find a specific function. In the ____ box, type a brief description of what you want to do. Then, click Go.

Correct AnswerverifiedShow Answer

The monthly interest rate is determined by dividing the annual interest rate by 12 ____________________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The IFERROR function is written as ____.

Correct AnswerverifiedShow Answer

An example of a square root function written correctly is ____.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If a function contains more than one argument, semicolons separate the arguments.

Correct AnswerverifiedShow Answer

If you know the function you want to enter, you can click the appropriate category button in the ____ group on the Formulas tab of the Ribbon.

Correct AnswerverifiedShow Answer

You can use the SUM function to total the values stored in up to 255 non-adjacent cells or ranges.

Correct AnswerverifiedShow Answer

As an example of a financial function, =____________________(.1,5,-500) displays the current value of five payments of $500 at a 10% interest rate.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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