Multiple Choice
What is the primary purpose of a fixed period settlement option in financial accounting?
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1. Introduction to Accounting
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following Excel formulas will insert the current date and time into cell A1?
A
=NOW()
B
=DATE()
C
=CURRENT()
D
=TIME()
Verified step by step guidance1
Step 1: Understand the purpose of the formulas provided in the options. Each formula has a specific function in Excel, and knowing their purpose will help identify the correct one.
Step 2: Analyze the formula =NOW(). This formula is used to insert the current date and time into a cell. It updates automatically whenever the worksheet is recalculated.
Step 3: Examine the formula =DATE(). This formula is used to create a specific date by combining year, month, and day values. It does not insert the current date and time.
Step 4: Review the formula =CURRENT(). This formula does not exist in Excel, so it is not a valid option.
Step 5: Evaluate the formula =TIME(). This formula is used to create a specific time by combining hour, minute, and second values. It does not insert the current date and time.
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