AAT L3 Spreadsheets for Accounting 6

Question 1

The Excel NETWORKDAYS function calculates:

Accepted Answer

The number of working days (excluding weekends and optionally holidays) between two dates

Answer

The number of days between two dates including weekends

Answer

The number of working hours in a day

Answer

The next available working day

Question 2

An accountant is asked to produce a cash flow forecast in Excel. To ensure the forecast updates automatically when assumptions change, the accountant should:

Accepted Answer

Link all forecast outputs to clearly labelled assumption input cells using formulas

Answer

Type the forecast numbers directly into the result cells

Answer

Create a separate spreadsheet for each scenario

Answer

Print the spreadsheet and update manually

Question 3

Which Excel function returns the position (row number) of a value within a range?

Accepted Answer

MATCH

Answer

VLOOKUP

Answer

FIND

Answer

INDEX

Question 4

When sharing an Excel workbook containing confidential client data, the most secure method is:

Accepted Answer

Password-protecting the workbook and sending via an encrypted, secure channel

Answer

Emailing the file unprotected to save time

Answer

Printing and posting the data

Answer

Sharing via a public cloud folder accessible to all

Question 5

The Excel SUMPRODUCT function is useful for accounting because it can:

Accepted Answer

Multiply corresponding values in two or more ranges and sum the results — useful for weighted averages and invoice totals

Answer

Only multiply two ranges together

Answer

Format currency values automatically

Answer

Create pivot tables from data

Question 6

In an Excel profit and loss template, circular references would occur if:

Accepted Answer

A formula directly or indirectly refers back to its own cell, creating a calculation loop

Answer

A formula references a cell on a different worksheet

Answer

A named range is used in a formula

Answer

Two cells reference the same input cell