AAT L3 Spreadsheets for Accounting 5

Question 1

Which feature in Excel allows you to protect the formulas in a spreadsheet from being accidentally changed?

Accepted Answer

Sheet protection (with locked cells)

Answer

Conditional formatting

Answer

Data validation

Answer

Freeze panes

Question 2

The Excel TEXT function is used to:

Accepted Answer

Format a number as text with a specified format

Answer

Count the number of characters in a cell

Answer

Convert text to a number

Answer

Search for text within a cell

Question 3

When preparing a payroll spreadsheet, which function could be used to look up an employee's pay rate from a separate table based on their employee code?

Accepted Answer

VLOOKUP

Answer

COUNTA

Answer

SUMIF

Answer

AVERAGE

Question 4

Which of the following describes the purpose of the 'Goal Seek' function in Excel?

Accepted Answer

It calculates what input value is needed to achieve a specific output value in a formula

Answer

It finds the goal in the most recent audit

Answer

It searches cells for specific text

Answer

It automatically creates charts from data

Question 5

In a well-designed accounting spreadsheet, a control total is used to:

Accepted Answer

Verify that data entered equals expected totals, providing a check on completeness and accuracy

Answer

Limit the number of rows in a worksheet

Answer

Format the spreadsheet for printing

Answer

Create a summary of all worksheets

Question 6

Which of the following is a risk of using spreadsheets for critical accounting data?

Accepted Answer

Formula errors, version control problems, and lack of audit trail can lead to material errors

Answer

They are too slow to use for large datasets

Answer

They cannot produce charts

Answer

They are not compatible with any accounting software