77-427 Online Practice Questions and Answers

Correct Answer:

You will have to click File button to accomplish the task. Clicking the File button will open the full- screen Backstage View of the sheet.

Correct Answer: AC

Correct Answer: D

The various Protect Workbook options are as follows:

1.

Mark as Final: This option is used to make the document read-only. When a spreadsheet is marked as final, various options such as typing, editing commands, and proofing marks are disabled or turned off and the spreadsheet becomes

read-only. This command helps a user to communicate that he is sharing a completed version of a spreadsheet. This command also prevents reviewers or readers from making inadvertent modifications to the spreadsheet.

2.

Encrypt with Password: When a user selects the Encrypt with Password option, the Encrypt Document dialog box appears. In the Password box, it is required to specify a password. Microsoft is not able to retrieve lost or forgotten

passwords, so it is necessary for a user to keep a list of passwords and corresponding file names in a safe place.

3.

Protect Current Sheet: This option is used to select password protection and permit or prohibit

other users to select, format, insert, delete, sort, or edit areas of the spreadsheet. This option

protects the worksheet and locked cells.

4.

Protect Workbook Structure: This option is used to select password protection and select options to prevent users from changing, moving, and deleting important data. This feature enables a user to protect the structure of the worksheet.

5.

Restrict Permission by People: This option works on the basis of Window Rights Management to restrict permissions. A user is required to use a Windows Live ID or a Microsoft Windows account to restrict permissions. These permissions

can be applied via a template that is used by the organization in which the user is working. These permissions can also be added by clicking Restrict Access.

6.

Add a Digital Signature: This option is used to add a visible or invisible digital signature.

It

authenticates digital information such as documents, e-mail messages, and macros by using computer cryptography. These signatures are created by specifying a signature or by using an image of a signature for establishing authenticity,

integrity, and non-repudiation.

Correct Answer: BC

Correct Answer: C

A PivotTable report is used to summarize large amounts of data, to analyze numerical data, and to answer unexpected questions about data. Answer option B is incorrect. Stand-alone slicers are referenced from Online Analytical Processing

(OLAP) Cube functions. These stand-alone slicers can be connected with any PivotTable in future.

They can be added by using the slicer button on the Ribbon. They need to be manually linked into grids as required.

Answer option D is incorrect. A form control is an original control that is compatible with old versions of Excel, beginning with Excel version 5. 0. It is designed for use on XLM macro sheets. It can be used when a user wants to simply interact

with cell data without using VBA code and when he wants to add controls to chart sheets. By using form controls, the user can run macros. He can attach an existing macro to a control, or write or record a new macro. These controls cannot

be added to UserForms, used to control events, or modified to run Web scripts on Web pages.

Answer option A is incorrect. The accounting template is used for numbering months of a financial year to period numbering. It is used to compare month to month, actual v budget, quarter to quarter, year to year variances. It is the initial point

for other reports that need the use of months.

Correct Answer: D

What-if analysis is defined as the process of changing values in cells to observe the way in which those changes are affecting the outcome of formulas in the worksheet. There are three types of what-if analysis tools that are named as scenarios, data tables, and Goal Seek. A user can also install the Solver add-in to accommodate more variables than Goal Seek. Answer option A is incorrect. A form control is an original control that is compatible with old versions of Excel, beginning with Excel version 5. 0. It is designed for use on XLM macro sheets. It can be used when a user wants to simply interact with cell data without using VBA code and when he wants to add controls to chart sheets. By using form controls, the user can run macros. He can attach an existing macro to a control, or write or record a new macro. These controls cannot be added to UserForms, used to control events, or modified to run Web scripts on Web pages. Answer option C is incorrect. The accounting template is used for numbering months of a financial year to period numbering. It is used to compare month to month, actual v budget, quarter to quarter, year to year variances. It is the initial point for other reports that need the use of months. Answer option B is incorrect. Trust Center is where a user can find security and privacy settings for Microsoft Office 2013 programs.

Correct Answer: C

In order to accomplish the task with the least amount of administrative burden, use sparklines.

Sparklines, introduced in Microsoft Office 2013, are tiny charts that can fit in a cell. The sparklines can be used to show trends in a small amount of space. The sparklines visually summarize trends alongside data.

The sparklines can be added through the Insert tab. Answer option A is incorrect. Stand-alone slicers are referenced from Online Analytical Processing (OLAP) Cube functions. These stand-alone slicers can be connected with any PivotTable

in future.

They can be added by using the slicer button on the Ribbon. They need to be manually linked into grids as required.

Answer option B is incorrect. A form control is an original control that is compatible with old versions of Excel, beginning with Excel version 5. 0. It is designed for use on XLM macro sheets. It can be used when a user wants to simply interact

with cell data without using VBA code and when he wants to add controls to chart sheets. By using form controls, the user can run macros. He can attach an existing macro to a control, or write or record a new macro. These controls cannot

be added to UserForms, used to control events, or modified to run Web scripts on Web pages.

Answer option D is incorrect. A PivotTable report is used to summarize large amounts of data, to analyze numerical data, and to answer unexpected questions about data.

Correct Answer: C

Various financial functions (reference) are as follows:

1.

ACCRINT function: It is used to return the accrued interest for a security that pays periodic interest.

2.

ACCRINTM function: It is used to return the accrued interest for a security that pays interest at maturity.

3.

AMORDEGRC function: It is used to return the depreciation for each accounting period by using a depreciation coefficient.

4.

COUPDAYBS function: It is used to return the number of days from the beginning of the coupon period to the settlement date.

5.

AMORLINC function: It is used to return the depreciation for each accounting period.

6.

COUPDAYS function: It is used to return the number of days in the coupon period containing the settlement date.

7.

COUPDAYSNC function: It is used to return the number of days from the settlement date to the next coupon date.

8.

COUPNCD function: It is used to return the next coupon date after the settlement date.

9.

COUPNUM function: It is used to return the number of coupons payable between the settlement date and maturity date.

10.

COUPPCD function: It is used to return the previous coupon date before the settlement date.

11.

CUMIPMT function: It is used to return the cumulative interest paid between two periods.

12.

CUMPRINC function: It is used to return the cumulative principal paid on a loan between two periods.

13.

DB function: It is used to return the depreciation of an asset for a specified period by using the fixed-declining balance method.

14.

DDB function: It is used to return the depreciation of an asset for a particular period by using the double-declining balance method.

15.

DISC function: It is used to return the discount rate for a security.

16.

DOLLARDE function: It is used to convert a dollar price that is expressed as a fraction into a dollar price that is expressed as a decimal number.

17.

DOLLARFR function: It is used to convert a dollar price that is expressed as a decimal number intoa dollar price that is expressed as a fraction.

18.

DURATION function: It is used to return the annual duration of a security with periodic interest payments.

19.

EFFECT function: It is used to return the effective annual interest rate.

20.

FV function: It is used to return the future value of an investment.

21.

FVSCHEDULE function: It is used to return the future value of a starting principal after applying a series of compound interest rates.

22.

INTRATE function: It is used to return the interest rate for a fully invested security.

23.

IPMT function: It is used to return the interest payment for an investment for a specified period.

24.

IRR function: It is used to return the internal rate of return for a series of cash flows.

25.

ISPMT function: It is used to calculate the interest paid during a particular period of an investment.

26.

MDURATION function: It is used to return the Macauley modified duration for a security with an assumed par value of $100.

27.

MIRR function: It is used to return the internal rate of return in which positive and negative cash flows are financed at different rates.

28.

NOMINAL function: It is used to return the annual nominal interest rate.

29.

NPER function: It is used to return the number of periods for an investment.

30.

NPV function: It is used to return the net present value of an investment on the basis of a series of periodic cash flows and a discount rate.

31.

ODDFPRICE function: It is used to return the price per $100 face value of a security with an odd first period.

32.

ODDFYIELD function: It is used to return the yield of a security with an odd first period.

33.

ODDLPRICE function: It is used to return the price per $100 face value of a security with an odd last period.

34.

ODDLYIELD function: It is used to return the yield of a security with an odd last period.

35.

PMT function: It is used to return the periodic payment for an annuity.

36.

PPMT function: It is used to return the payment on the principal for an investment for a particular defined period.

37.

PRICE function: It is used to return the price per $100 face value of a security that pays periodic interest.

38.

PRICEDISC function: It is used to return the price per $100 face value of a discounted security.

39.

PRICEMAT function: It is used to return the price per $100 face value of a security that pays interest at maturity.

40.

PV function: It is used to return the current value of an investment.

41.

RATE function: It is use d to return the interest rate per period of an annuity.

42.

RECEIVED function: It is used to return the amount received at maturity for a fully invested security.

43.

SLN function: It is used to return the straight-line depreciation of an asset for one period.

44.

SYD function: It is used to return the sum-of-years' digits depreciation of an asset for a particular period.

45.

TBILLEQ function: It is used to return the bond-equivalent yield for a Treasury bill.

46.

TBILLPRICE function: It is used to return the price per $100 face value for a Treasury bill.

47.

TBILLYIELD function: It is used to return the yield for a Treasury bill.

48.

VDB function: It is used to return the depreciation of an asset for a specified or partial period by using a declining balance method.

49.

XIRR function: It is used to return the internal rate of return for a schedule of cash flows that is not necessarily periodic.

50.

XNPV function: It is used to return the net present value for a schedule of cash flows that is not necessarily periodic.

51.

YIELD function: It is used to return the yield on a security that pays periodic interest.

52.

YIELDDISC function: It is used to return the annual yield for a discounted security.

53.

YIELDMAT function: It is used to return the annual yield of a security that pays interest at maturity.

Correct Answer: ABCDF

In this situation, you will take the following steps:

1.

Select the cells to convert their data to text.

2.

Select the Text to Columns option from the Data tab at the top of your Excel workbook.

3.

Select the Delimited option and click Next.

4.

Make sure that all delimiter options are unselected, and then again click Next.

5.

Select Text and click the Finish button in Column Data Formats.

Correct Answer: D

In order to accomplish the task, you will have to insert the following formula:

=$B$3/100 * E8

According to the question, the formula will be inserted in cell F8 and then the cell's border will be dragged to the F12 cell. Furthermore, the incentive percentage is fixed for all sales managers

and the value is provided in the cell B3. You will have to insert a formula that refers to the B3 cell as an absolute reference. For this you will have to type currency symbol ($) before the row

name and column number. In order to accomplish the task, type the following formula in the cell F8:

=$B$3/100 * E8

When absolute reference is used for referencing a cell in a formula, dragging cell's border to another cell does not change the cell's reference. Answer options B and E are incorrect. This formula references the B3 cell as a relative reference.

After inserting the formula, when the cell's border is dragged, it will change the cell reference relatively.

Answer options A and C are incorrect. Ampersand symbol (and) is not used for referencing cells in Excel.