1. In Excel, text can be rotated counterclockwise by entering a number between __________ on the Alignment sheet in the Format Cells dialog box.
a.  1º and 90º
b.   -1º and -90º
c.   90º and 180º
d.   -90º and -180º
 

2. If cells containing 600 and 580 are copied using the fill handle, the next three values of the extended series will be __________.
a.  500, 480, 400
b.   560, 540, 520
c.   570, 560, 550
d.   579, 578, 577
 

3. To copy formats to a range of cells, __________.
a.  drag through the range to which the format should be pasted, click the Format Painter button, and then select a cell with the desired format
b.   drag through the range to which the format should be pasted, select a cell with the desired format, and then click the Format Painter button
c.   click the Format Painter button, drag through the range to which the format should be pasted, and then select a cell with the desired format
d.   select a cell with the desired format, click the Format Painter button, and then drag through the range to which the format should be pasted
 

4. If, in completing a paste, valuable data accidentally is deleted, immediately click the Undo button on the Standard toolbar or click the Undo Paste command on the __________ menu to undo the paste.
a.  File
b.   Edit
c.   View
d.   Insert
 

5. To copy a selection, hold down the __________ key while dragging the selection to its new location.
a.  CTRL
b.   SHIFT
c.   ALT
d.   INSERT
 

6. The primary difference between the Insert command on the shortcut menu and the Rows command on the Insert menu is this: the Insert command __________.
a.  only can be used to insert single cells, while the Rows command can be used to insert entire rows
b.   requires that an entire row be selected in order to insert a row, while the Rows command requires that a single cell be selected in a row to insert one row
c.   only can be used to insert entire rows, while the Rows command can be used to insert single cells
d.   requires that a single cell be selected in a row to insert one row, while the Rows command requires that an entire row be selected in order to insert a row
 

7. If formulas located in other cells reference cells in a deleted row or column, Excel displays the error message __________ in those cells to indicate a cell reference error.
a.  #VALUE!
b.   #N/A!
c.   #NULL!
d.   #REF!
 

8. Valid format symbols that can be entered with a number include all of the following except the __________.
a.  asterisk (*)
b.   comma (,)
c.   dollar sign ($)
d.   percent sign (%)
 

9. To freeze the worksheet titles and column titles, use the Freeze Panes command on the __________.
a.  Format menu
b.   Tools menu
c.   Data menu
d.   Window menu
 

10. When a date is displayed in the General format (e.g., 37071.75), the whole number portion of the number (37071) represents the number of days since __________.
a.  December 31, 1899
b.   January 1, 1990
c.   December 31, 1999
d.   January 1 of the current year
 

11. To specify an absolute reference in a formula, enter a(n) __________ before any column letters or row numbers to be kept constant when formulas are copied.
a.  number sign (#)
b.   ampersand (@)
c.   dollar sign ($)
d.   asterisk (*)
 

12. A formula using __________ instructs Excel to keep both the row and column references constant (absolute) as it copies the formula to a new location.
a.  B17
b.   $B17
c.   B$17
d.   $B$17
 

13. The general form of the IF function is __________.
a.  =IF(logical_test, value_if_true, value_if_false)
b.   =IF(logical_test, value_if_false, value_if_true)
c.   =IF(value_if_true, logical_test, value_if_false)
d.   =IF(value_if_false, logical_test, value_if_true)
 

14. In an IF function, valid comparison operators (and their meaning) include all of the following except __________.
a.  = (equal to) and <> (not equal to)
b.   < (less than) and > (greater than)
c.   >= (greater than or equal to) and <= (less than or equal to)
d.   >< (less than or greater than) and ^ (outside of)
 

15. The IF function =IF(B4>=$B$21, $B$20, 0) is assigned to cell B10. If the value in cell B4 is 8,754,250, the value in cell B21 is 5,000,000, and the value in cell B20 is 75,000, the value display is cell B10 will be __________.
a.  8,754,250
b.   75,000
c.   5,000,000
d.   0
 

16. A floating toolbar can be moved by pointing to __________ in the toolbar window and then dragging the toolbar to its new location.
a.  the title bar or to a blank area
b.   the title bar or to a button
c.   a button or to a blank area
d.   all of the above
 

17. In any of the four Chart Wizard dialog boxes, the __________ button can be clicked to return to the previous Chart Wizard dialog box.
a.  Cancel
b.   Back
c.   Next
d.   Finish
 

18. When Excel initially draws a Pie chart, it always points one of the dividing lines between two slices to __________.
a.  twelve o'clock (or zero degrees)
b.   three o'clock (or ninety degrees)
c.   six o'clock (or one hundred-eighty degrees)
d.   nine o'clock (or two hundred-seventy degrees)
 

19. The thickness of a 3-D Pie chart can be controlled by entering a percent smaller or larger than the default 100% in the __________ in the 3-D View dialog box.
a.  Elevation box
b.   Rotation box
c.   Height box
d.   Apply box
 

20. An alternative to using the Ungroup Sheets command on the tab shortcut menu to deselect tabs is to hold down the __________ key and then click the tab of the sheet to be made active.
a.  TAB
b.   ALT
c.   HOME
d.   SHIFT
 

21. When the window is divided into four panes, as shown in the accompanying figure, the bar going right to left across the middle of the window is called the __________.
a.  vertical split bar
b.   vertical scroll bar
c.   horizontal split bar
d.   horizontal scroll bar
 
 

22. To divide the window into four panes, as shown in the accompanying figure, click the __________ on the Windows menu.
a.  New Window command
b.   Arrange command
c.   Split command
d.   Freeze Panes command
 

23. When the window is divided into four panes, as shown in the accompanying figure, the bar going up and down the middle of the window is called the __________.
a.  vertical split bar
b.   vertical scroll bar
c.   horizontal split bar
d.   horizontal scroll bar
 

24. If the result a formula should produce is known, the __________ on the Tools menu can be used to determine the value of a cell on which the formula depends.
a.  Track Changes command
b.   Data Analysis command
c.   Share Workbook command
d.   Goal Seek command
 

25. Goal seeking assumes the value of __________ referenced directly or indirectly can be changed.
a.  no cells
b.   only one cell
c.   two or more cells
d.   any number of cells
 

26. Worksheets normally are much smaller than those created in the text, seldom extending beyond the size of the worksheet window.
a. true
b.  false
 

27. With large worksheets that extend beyond the size of a window, it is best to enter titles in the upper-left corner.
a. true
b.  false
 

28. If the fill handle is used to create a series of numbers or non-sequential months, the first item in the series must be entered in one cell and the second item in the series in an adjacent cell.
a. true
b.  false
 

29. The Increase Indent button moves the contents of a cell to the left by three spaces each time it is clicked.
a. true
b.  false
 

30. The fill handle can be used to copy a range of cells to a nonadjacent paste area.
a. true
b.  false
 

31. When the Copy button, or the Copy command on the Edit or shortcut menu, is clicked, it copies the newest item on the Office Clipboard to the paste area.
a. true
b.  false
 

32. To copy an older item on the Office Clipboard to a paste area, click the icon representing the item on the Clipboard toolbar.
a. true
b.  false
 

33. When the ENTER key is pressed to complete a copy, the contents of the Office Clipboard remain available without displaying the Clipboard toolbar.
a. true
b.  false
 

34. If cells are to be copied to more than one paste area, after selecting the paste area press the ENTER key instead of clicking the Paste button on the Edit menu or shortcut menu.
a. true
b.  false
 

35. The Rows command on the Insert menu or the Insert command on the shortcut menu allow rows to be inserted between rows that already contain data.
a. true
b.  false
 

36. When rows are inserted into a worksheet, if rows that are shifted down include any formulas, Excel adjusts the cell references to the new locations.
a. true
b.  false
 

37. The Columns command on the Insert menu requires that an entire column (or columns) be selected to insert a column (or columns).
a. true
b.  false
 

38. To ensure that the values in a worksheet do not get out of order, it is recommended that only individual cells or a range of cells be inserted.
a. true
b.  false
 

39. Deleting cells is the same as clearing cells.
a. true
b.  false
 

40. If cell A7 contains the formula =A4+A5 and row 5 is deleted, then Excel assigns the formula =A4+#REF! to cell A6 (originally cell A7) and displays the error message #REF! in cell A6.
a. true
b.  false
 

41. If the number entered with a format symbol has one or more decimal places, then Excel displays the number without any decimal places.
a. true
b.  false
 

42. Titles are unfrozen by clicking the Unfreeze Panes command on the Window menu.
a. true
b.  false
 

43. In information processing, a report often is meaningless without a date stamp.
a. true
b.  false
 

44. The NOW function is one of twenty date and time functions available in Excel.
a. true
b.  false
 

45. Excel automatically formats a date stamp to the date and time format, m/d/yy h:mm, where the first m is the month, d is the day of the month, yy is the last two digits of the year, h is the hour of the day, and mm is the minutes past the hour.
a. true
b.  false
 

46. When the system date is entered, the date displays left-aligned in the cell because Excel treats the date as text.
a. true
b.  false
 

47. When Excel displays the date in the General format (e.g., 37071.75), the decimal portion (.75) represents the month of the year (September).
a. true
b.  false
 

48. $B$17 is a relative reference and B17 is an absolute reference.
a. true
b.  false
 

49. To enter an absolute reference, the dollar sign ($) can be typed or the insertion point can be placed in or to the right of the cell reference to be changed to absolute and the F4 key pressed.
a. true
b.  false
 

50. In an IF function's logical_test, each expression can be a cell reference, a number, text, a function, or a formula.
a. true
b.  false
 

51. The formulas in a worksheet can be viewed by pressing ALT+RIGHT QUOTATION MARK (´).
a. true
b.  false
 

52. The Comma Style button on the Formatting toolbar displays 0.00 when a cell has a value of zero (0).
a. true
b.  false
 

53. Excel has more than 200 toolbar buttons, most of which display on 16 built-in toolbars.
a. true
b.  false
 

54. The Drawing toolbar can be displayed or hidden by clicking the Drawing button on the Standard toolbar.
a. true
b.  false
 

55. Unlike other windows, a toolbar cannot be resized by dragging the toolbar window borders.
a. true
b.  false
 

56. Excel has four toolbar docks, one on each of the four sides of the window.
a. true
b.  false
 

57. Each time a toolbar is docked, the Excel window slightly increases in size to allow for the room taken up by the toolbar.
a. true
b.  false
 

58. When a drop shadow is added to a range of cells, Excel selects the drop shadow and surrounds it with handles.
a. true
b.  false
 

59. Each slice (or wedge) of a 3-D Pie chart shows what percent that slice contributes to the total (100%).
a. true
b.  false
 

60. At any time, the Cancel button in any of the Chart Wizard dialog boxes can be clicked to create the chart with the options selected thus far.
a. true
b.  false
 

61. Once a chart item is selected, it can be formatted using the Formatting toolbar, shortcut menu, special keys, or the Format menu.
a. true
b.  false
 

62. Offsetting multiple slices of a 3-D Pie chart tends to increase the impact on the reader and increases the overall size of the Pie chart.
a. true
b.  false
 

63. With a three-dimensional chart, the view can be changed to better display the emphasized section of the chart.
a. true
b.  false
 

64. The spelling checker checks the spelling only in the selected sheets.
a. true
b.  false
 

65. Different parts of a worksheet can be viewed through window panes.
a. true
b.  false
 

66. Magnifying or shrinking a worksheet affects only the window size or printout of the worksheet or chart; it does not change the view.
a. true
b.  false
 

67. When magnifying a worksheet, the characters on the screen become small and more columns and rows display.
a. true
b.  false
 

68. Excel normally displays a chart at approximately 100% magnification at 800 x 1000 resolution so that only part of the chart displays on the screen.
a. true
b.  false
 

69. Excel allows a percent magnification between 10 and 400 to be entered in the Zoom box for worksheets and chart items.
a. true
b.  false
 

70. To split the window into four panes, first select the cell where the panes should intersect.
a. true
b.  false
 

71. When a window is divided into panes, the panes split by the vertical split bar scroll together vertically.
a. true
b.  false
 

72. When a window is divided into panes, the values in cells can be changed in any of the four panes.
a. true
b.  false
 

73. To remove one of the split bars from a window, drag the split box to the center of the window or click the split bar.
a. true
b.  false
 

74. Excel not only recalculates all formulas in a worksheet when new data is entered, but also redraws any associated charts.
a. true
b.  false
 

75. When a new assumption is entered, the process of recalculating the worksheet and redrawing the associated chart takes more than five minutes, regardless of how many calculations must be performed or the speed of the computer.
a. true
b.  false
 

76. In the accompanying figure, the amortization schedule __________.
a.  provides general, basic information about the loan
b.   answers 11 different what-if questions pertaining to the effect of interest rates
c.   connects to other Office documents or HTML files
d.   shows the beginning and ending balances and the amount of payment that applies to the principal and interest over a period of time
 
 

77. In the accompanying figure, the hyperlink __________.
a.  provides general, basic information about the loan
b.   answers 11 different what-if questions pertaining to the effect of interest rates
c.   connects to other Office documents or HTML files
d.   shows the beginning and ending balances and the amount of payment that applies to the principal and interest over a period of time
 

78. In the accompanying figure, the data table section __________.
a.  provides general, basic information about the loan
b.   answers 11 different what-if questions pertaining to the effect of interest rates
c.   connects to other Office documents or HTML files
d.   shows the beginning and ending balances and the amount of payment that applies to the principal and interest over a period of time
 

79. To control the color and thickness of an outline and border, use the Border tab in the __________ dialog box.
a.  Pick From List
b.   Insert Comment
c.   Format Cells
d.   Clear Contents
 

80. It is important that border characteristics be selected in this order: __________.
a.  (1) choose the border type; (2) choose the border line style; and (3) choose the color
b.   (1) choose the border line style; (2) choose the border type; and (3) choose the color
c.   (1) choose the color; (2) choose the border type; and (3) choose the border line style
d.   (1) choose the color; (2) choose the border line style; and (3) choose the border type
 

81. Down Pymt is written as the name __________ when referencing the adjacent cell.
a.  down pymt
b.   down_pymt
c.   down-pymt
d.   down*pymt
 

82. Each of the following is true regarding the assignment of names to cells except __________.
a.  names can be a minimum of one character to a maximum of 255 characters
b.   names are relative references
c.   names display in alphabetical order in the name box
d.   names are global with respect to the workbook
 

83. Labels are different from names in all of the following ways except __________.
a.  labels are not absolute
b.   labels show up in the Names box
c.   labels cannot be used on other worksheets in the workbook
d.   labels can be used without entering underscores in place of spaces
 

84. The general form of the PMT function is __________.
a.  =PMT(rate, payment, loan amount)
b.   =PMT(payment, loan amount, rate)
c.   =PMT(loan amount, rate, payment)
d.   =PMT(rate, loan amount, payment)
 

85. When entering the PMT function, to display the monthly payment as a positive number, a __________ can be entered before the loan amount.
a.  greater than sign
b.   plus sign
c.   less than sign
d.   negative sign
 

86. The PMT function can be entered by clicking the Paste Function button on the Standard toolbar and, when the Paste Function dialog box displays, clicking __________ in the Function category list box and then clicking PMT in the Function name list box.
a.  Database
b.   Statistical
c.   Financial
d.   Information
 

87. The FV function is one of the more often used financial functions that returns the future value of an investment based on __________.
a.  periodic, constant payments and a constant interest rate
b.   sporadic, inconsistent payments and a constant interest rate
c.   periodic, varying payments and a varying interest rate
d.   sporadic, inconsistent payments and a varying interest rate
 

88. When entering formulas from the loan analysis section into the data table, the best alternative is to __________ because it is the easiest method and, if the formulas in the loan analysis section change, the formulas in the data table are updated automatically.
a.  retype the formulas
b.   copy the formulas
c.   enter the formulas using names
d.   use cell references preceded by an equal sign
 

89. To define a selected range as a Data table, click __________ on the menu bar and then point to Table.
a.  Insert
b.   Format
c.   Data
d.   Edit
 

90. To edit a hyperlink, __________ the graphic hyperlink to select it, point to Hyperlink on the shortcut menu, and then click Edit Hyperlink.
a.  click
b.   double-click
c.   right-click
d.   drag
 

91. With Excel, hyperlinks easily can be created to __________.
a.  other files on a personal computer
b.   an intranet
c.   the World Wide Web
d.   all of the above
 

92. The __________ can be used to determine how much the borrower of a loan owes at the end of each year.
a.  PV function
b.   FV function
c.   PMT function
d.   DDB function
 

93. When a formula is entered in a cell, Excel assigns the cell the __________.
a.  Currency style format
b.   same format as the first cell reference in the formula
c.   Comma style format
d.   same format as the last cell reference in the formula
 

94. If the logical test is false, then the IF function =IF(G3 <= $E$3, PV($E$2 / 12, 12 * ($E$3 - G#), -$E$4), 0) assigns __________ to the cell.
a.  $E$2 / 12
b.   12 * ($E$3 - G#)
c.   -$E$4
d.   0 (zero)
 

95. Analysts often look for the row in the data table that agrees with the __________.
a.  input cell names
b.   input cell results
c.   output cell names
d.   output cell results
 

96. All of the following are important points about one-input data tables except __________.
a.  the formulas analyzed must have a cell reference to the input cell
b.   as many active data tables as desired can be in a worksheet
c.   while only one formula can be analyzed, as many values can vary as desired
d.   a data table can be deleted by selecting the table and pressing the DELETE key
 

97. Cells should be protected only __________.
a.  before the worksheet has been fully tested and displays incorrect results
b.   before the worksheet has been fully tested and displays the correct results
c.   after the worksheet has been fully tested and displays incorrect results
d.   after the worksheet has been fully tested and displays the correct results
 

98. To protect a worksheet, click __________ on the menu bar, point to Protection, and then click Protect Sheet on the Protection submenu.
a.  Format
b.   Data
c.   Tools
d.   Edit
 

99. To determine the down payment for a specific monthly payment using the Goal Seek command, click __________ on the menu bar and then click Goal Seek.
a.  Window
b.   Tools
c.   File
d.   Insert
 

100. To quit Excel, click the __________ side of the title bar.
a.  Excel button on the left
b.   Minimize button on the right
c.   Restore button on the left
d.   Close button on the right
 

101. Two of the more powerful aspects of Excel are its wide array of functions and its capability of organizing answers to what-if questions.
a. true
b.  false
 

102. A data table is used to automate data analyses and organize the answers returned by Excel.
a. true
b.  false
 

103. A major drawback of Excel is its inability to add hyperlinks to a worksheet.
a. true
b.  false
 

104. Cell protection ensures that users will inadvertently change values that are critical to the worksheet.
a. true
b.  false
 

105. Using a column as a separator between sections on a worksheet is a common technique used by spreadsheet specialists.
a. true
b.  false
 

106. The Borders button on the Formatting toolbar is used to control the color and thickness of outlines and borders.
a. true
b.  false
 

107. While cells usually are formatted after values are entered, Excel also allows cells to be formatted before values are entered.
a. true
b.  false
 

108. The Currency style format has no impact on text.
a. true
b.  false
 

109. If a percent sign (%) is appended to 8.25 when it is entered into a cell, Excel automatically formats the number to the Percent style with no decimal places.
a. true
b.  false
 

110. Worksheets often have column titles at the top of each column and row titles to the left of each row that describe the data within the worksheet.
a. true
b.  false
 

111. The Name command on the Insert menu can be used to define descriptive names that are not column titles or row titles to represent cells, ranges of cells, formulas, or constants.
a. true
b.  false
 

112. Naming a cell that will be referenced in a formula makes the formula more difficult to read and remember.
a. true
b.  false
 

113. To name cells, select the range encompassing the row titles that include the names and the cells to be named and then use the Name command on the Insert menu.
a. true
b.  false
 

114. Excel is case-sensitive with respect to names of cells.
a. true
b.  false
 

115. If the Copy command will be used with formulas, it is unimportant whether the formulas contain names or cell references.
a. true
b.  false
 

116. Spreadsheet specialists often assign names to a cell or range of cells so they can select them quickly.
a. true
b.  false
 

117. To select a cell that has been assigned a name, click the Name box arrow and then click the name of the cell to be selected.
a. true
b.  false
 

118. It is necessary to enter commands to assign label names.
a. true
b.  false
 

119. To activate label usage, click Insert on the menu bar, click Object, click the Calculation tab, and select Accept labels in formulas.
a. true
b.  false
 

120. Because loan institutions calculate interest on a monthly basis, when determining a monthly payment the rate value in the PMT function must be multiplied by 12, and the number of payments is divided by 12.
a. true
b.  false
 

121. Excel considers the value returned by the PMT function to be a credit, and therefore, returns a positive number as the monthly payment.
a. true
b.  false
 

122. The PMT function can be entered by clicking the Paste Function button on the Standard toolbar.
a. true
b.  false
 

123. Excel provides more than 50 financial functions that can help solve the most complex financial problems.
a. true
b.  false
 

124. If the value in a cell is changed, Excel immediately recalculates the new results of any formulas that reference the cell directly or indirectly.
a. true
b.  false
 

125. Data tables are built in a used area of the worksheet.
a. true
b.  false
 

126. Within a data table, one or two values can vary and Excel will display the results of the specified formulas in table form.
a. true
b.  false
 

127. In a one-input data table, the values in one or more cells can vary and Excel then calculates the results of one formula and displays the result.
a. true
b.  false
 

128. The cell immediately to the left of the formulas in a one-input data table cannot include an input value.
a. true
b.  false
 

129. The number of formulas placed at the top of a one-input data table depends on the application.
a. true
b.  false
 

130. When entering formulas from a loan analysis section into a data table, the reason cell names are preferred over cell references is that when cell names are used, Excel assigns the format of the cell name to the cell.
a. true
b.  false
 

131. When defining a range as a data table, the section title and column headings are part of the data table because they identify the data table and columns in the table.
a. true
b.  false
 

132. There can be only one active data table in a worksheet.
a. true
b.  false
 

133. To add additional formulas to a one-input data table, enter them in adjacent cells in the same row as the current formulas and define the entire new range as a data table by using the Table command on the Data menu.
a. true
b.  false
 

134. An amortization schedule is limited to 15 years.
a. true
b.  false
 

135. The PV function can determine an ending balance after the first year by using a term equal to the number of months the borrower still must make payments.
a. true
b.  false
 

136. In a function, dollar signs within cell references indicate the cell reference is relative and, therefore, will change as the function is copied.
a. true
b.  false
 

137. If cell I3 has a Currency style format, when the formula =H3-I3 is entered in cell J3 Excel assigns the Currency style format to cell J3.
a. true
b.  false
 

138. The results of IF functions in cells display using the General format, which is the format of all cells when a new workbook is opened.
a. true
b.  false
 

139. The Comma Style button on the Formatting toolbar uses the digit 0 to represent zero.
a. true
b.  false
 

140. A destination file (or hyperlinked file) can be any Office document or HTML file (Web page).
a. true
b.  false
 

141. Once a hyperlink is assigned to an element in a worksheet, the mouse pointer can be positioned on the element to display the hyperlink as a ScreenTip.
a. true
b.  false
 

142. Clicking a graphic hyperlink will display a hyperlinked file.
a. true
b.  false
 

143. If a hyperlink does not connect to a destination file, check to make sure the correct hyperlink was typed in the Type the file or Web page text box in the Insert Hyperlink dialog box.
a. true
b.  false
 

144. When building a worksheet for novice users, cells in the worksheet that should not be changed should be left unprotected, such as cells that contain text and formulas.
a. true
b.  false
 

145. When creating a new worksheet, all of the cells are assigned a locked status, but the lock is not engaged, leaving them unprotected.
a. true
b.  false
 

146. If a cell is protected and the worksheet user attempts to change its value, Excel displays a dialog box with a message indicating the cells are protected.
a. true
b.  false
 

147. Protecting a worksheet is a two-step process: (1) protect the entire worksheet; and (2) select the cells to be left unprotected and change their cell protection settings to an unlocked status.
a. true
b.  false
 

148. If the desired result of a formula is known, goal seeking can be used to determine what value is needed in a particular cell to produce that result.
a. true
b.  false
 

149. In goal seeking, the cell to vary must be referenced directly in the formula or function.
a. true
b.  false
 

150. After clicking the OK button in the Goal Seek dialog box, the worksheet can be reset to the values prior to goal seeking by clicking the Redo button on the Standard toolbar.
a. true
b.  false
 

1. a (07Excl-3-8)  In Excel, text can be rotated counterclockwise by entering a number between __________ on the Alignment sheet in the Format Cells dialog box.
2. b (07Excl-3-10)  If cells containing 600 and 580 are copied using the fill handle, the next three values of the extended series will be __________.
3. d (07Excl-3-11)  To copy formats to a range of cells, __________.
4. b (07Excl-3-15)  If, in completing a paste, valuable data accidentally is deleted, immediately click the Undo button on the Standard toolbar or click the Undo Paste command on the __________ menu to undo the paste.
5. a (07Excl-3-15)  To copy a selection, hold down the __________ key while dragging the selection to its new location.
6. b (07Excl-3-17)  The primary difference between the Insert command on the shortcut menu and the Rows command on the Insert menu is this: the Insert command __________.
7. d (07Excl-3-18)  If formulas located in other cells reference cells in a deleted row or column, Excel displays the error message __________ in those cells to indicate a cell reference error.
8. a (07Excl-3-18)  Valid format symbols that can be entered with a number include all of the following except the __________.
9. d (07Excl-3-19)  To freeze the worksheet titles and column titles, use the Freeze Panes command on the __________.
10. a (07Excl-3-24)  When a date is displayed in the General format (e.g., 37071.75), the whole number portion of the number (37071) represents the number of days since __________.
11. c (07Excl-3-25)  To specify an absolute reference in a formula, enter a(n) __________ before any column letters or row numbers to be kept constant when formulas are copied.
12. d (07Excl-3-25)  A formula using __________ instructs Excel to keep both the row and column references constant (absolute) as it copies the formula to a new location.
13. a (07Excl-3-27)  The general form of the IF function is __________.
14. d (07Excl-3-27)  In an IF function, valid comparison operators (and their meaning) include all of the following except __________.
15. b (07Excl-3-28)  The IF function =IF(B4>=$B$21, $B$20, 0) is assigned to cell B10. If the value in cell B4 is 8,754,250, the value in cell B21 is 5,000,000, and the value in cell B20 is 75,000, the value display is cell B10 will be __________.
16. a (07Excl-3-38)  A floating toolbar can be moved by pointing to __________ in the toolbar window and then dragging the toolbar to its new location.
17. b (07Excl-3-49)  In any of the four Chart Wizard dialog boxes, the __________ button can be clicked to return to the previous Chart Wizard dialog box.
18. a (07Excl-3-52)  When Excel initially draws a Pie chart, it always points one of the dividing lines between two slices to __________.
19. c (07Excl-3-55)  The thickness of a 3-D Pie chart can be controlled by entering a percent smaller or larger than the default 100% in the __________ in the 3-D View dialog box.
20. d (07Excl-3-59)  An alternative to using the Ungroup Sheets command on the tab shortcut menu to deselect tabs is to hold down the __________ key and then click the tab of the sheet to be made active.
21. c (07Excl-3-62)  When the window is divided into four panes, as shown in the accompanying figure, the bar going right to left across the middle of the window is called the __________.
22. c (07Excl-3-61)  To divide the window into four panes, as shown in the accompanying figure, click the __________ on the Windows menu.
23. a (07Excl-3-62)  When the window is divided into four panes, as shown in the accompanying figure, the bar going up and down the middle of the window is called the __________.
24. d (07Excl-3-65)  If the result a formula should produce is known, the __________ on the Tools menu can be used to determine the value of a cell on which the formula depends.
25. b (07Excl-3-67)  Goal seeking assumes the value of __________ referenced directly or indirectly can be changed.
26. b - false (07Excl-3-4)  Worksheets normally are much smaller than those created in the text, seldom extending beyond the size of the worksheet window.
27. a - true (07Excl-3-7)  With large worksheets that extend beyond the size of a window, it is best to enter titles in the upper-left corner.
28. a - true (07Excl-3-10)  If the fill handle is used to create a series of numbers or non-sequential months, the first item in the series must be entered in one cell and the second item in the series in an adjacent cell.
29. b - false (07Excl-3-13)  The Increase Indent button moves the contents of a cell to the left by three spaces each time it is clicked.
30. b - false (07Excl-3-13)  The fill handle can be used to copy a range of cells to a nonadjacent paste area.
31. b - false (07Excl-3-14)  When the Copy button, or the Copy command on the Edit or shortcut menu, is clicked, it copies the newest item on the Office Clipboard to the paste area.
32. a - true (07Excl-3-14)  To copy an older item on the Office Clipboard to a paste area, click the icon representing the item on the Clipboard toolbar.
33. b - false (07Excl-3-15)  When the ENTER key is pressed to complete a copy, the contents of the Office Clipboard remain available without displaying the Clipboard toolbar.
34. b - false (07Excl-3-15)  If cells are to be copied to more than one paste area, after selecting the paste area press the ENTER key instead of clicking the Paste button on the Edit menu or shortcut menu.
35. a - true (07Excl-3-16)  The Rows command on the Insert menu or the Insert command on the shortcut menu allow rows to be inserted between rows that already contain data.
36. a - true (07Excl-3-17)  When rows are inserted into a worksheet, if rows that are shifted down include any formulas, Excel adjusts the cell references to the new locations.
37. b - false (07Excl-3-17)  The Columns command on the Insert menu requires that an entire column (or columns) be selected to insert a column (or columns).
38. b - false (07Excl-3-17)  To ensure that the values in a worksheet do not get out of order, it is recommended that only individual cells or a range of cells be inserted.
39. b - false (07Excl-3-18)  Deleting cells is the same as clearing cells.
40. a - true (07Excl-3-18)  If cell A7 contains the formula =A4+A5 and row 5 is deleted, then Excel assigns the formula =A4+#REF! to cell A6 (originally cell A7) and displays the error message #REF! in cell A6.
41. b - false (07Excl-3-18)  If the number entered with a format symbol has one or more decimal places, then Excel displays the number without any decimal places.
42. a - true (07Excl-3-20)  Titles are unfrozen by clicking the Unfreeze Panes command on the Window menu.
43. a - true (07Excl-3-21)  In information processing, a report often is meaningless without a date stamp.
44. a - true (07Excl-3-22)  The NOW function is one of twenty date and time functions available in Excel.
45. a - true (07Excl-3-22)  Excel automatically formats a date stamp to the date and time format, m/d/yy h:mm, where the first m is the month, d is the day of the month, yy is the last two digits of the year, h is the hour of the day, and mm is the minutes past the hour.
46. b - false (07Excl-3-24)  When the system date is entered, the date displays left-aligned in the cell because Excel treats the date as text.
47. b - false (07Excl-3-24)  When Excel displays the date in the General format (e.g., 37071.75), the decimal portion (.75) represents the month of the year (September).
48. b - false (07Excl-3-25)  $B$17 is a relative reference and B17 is an absolute reference.
49. a - true (07Excl-3-25)  To enter an absolute reference, the dollar sign ($) can be typed or the insertion point can be placed in or to the right of the cell reference to be changed to absolute and the F4 key pressed.
50. a - true (07Excl-3-27)  In an IF function's logical_test, each expression can be a cell reference, a number, text, a function, or a formula.
51. b - false (07Excl-3-29)  The formulas in a worksheet can be viewed by pressing ALT+RIGHT QUOTATION MARK (´).
52. b - false (07Excl-3-33)  The Comma Style button on the Formatting toolbar displays 0.00 when a cell has a value of zero (0).
53. a - true (07Excl-3-37)  Excel has more than 200 toolbar buttons, most of which display on 16 built-in toolbars.
54. a - true (07Excl-3-37)  The Drawing toolbar can be displayed or hidden by clicking the Drawing button on the Standard toolbar.
55. b - false (07Excl-3-38)  Unlike other windows, a toolbar cannot be resized by dragging the toolbar window borders.
56. a - true (07Excl-3-38)  Excel has four toolbar docks, one on each of the four sides of the window.
57. b - false (07Excl-3-38)  Each time a toolbar is docked, the Excel window slightly increases in size to allow for the room taken up by the toolbar.
58. a - true (07Excl-3-40)  When a drop shadow is added to a range of cells, Excel selects the drop shadow and surrounds it with handles.
59. a - true (07Excl-3-43)  Each slice (or wedge) of a 3-D Pie chart shows what percent that slice contributes to the total (100%).
60. b - false (07Excl-3-49)  At any time, the Cancel button in any of the Chart Wizard dialog boxes can be clicked to create the chart with the options selected thus far.
61. a - true (07Excl-3-49)  Once a chart item is selected, it can be formatted using the Formatting toolbar, shortcut menu, special keys, or the Format menu.
62. b - false (07Excl-3-52)  Offsetting multiple slices of a 3-D Pie chart tends to increase the impact on the reader and increases the overall size of the Pie chart.
63. a - true (07Excl-3-52)  With a three-dimensional chart, the view can be changed to better display the emphasized section of the chart.
64. a - true (07Excl-3-57)  The spelling checker checks the spelling only in the selected sheets.
65. a - true (07Excl-3-59)  Different parts of a worksheet can be viewed through window panes.
66. b - false (07Excl-3-59)  Magnifying or shrinking a worksheet affects only the window size or printout of the worksheet or chart; it does not change the view.
67. b - false (07Excl-3-59)  When magnifying a worksheet, the characters on the screen become small and more columns and rows display.
68. b - false (07Excl-3-61)  Excel normally displays a chart at approximately 100% magnification at 800 x 1000 resolution so that only part of the chart displays on the screen.
69. a - true (07Excl-3-61)  Excel allows a percent magnification between 10 and 400 to be entered in the Zoom box for worksheets and chart items.
70. a - true (07Excl-3-61)  To split the window into four panes, first select the cell where the panes should intersect.
71. b - false (07Excl-3-62)  When a window is divided into panes, the panes split by the vertical split bar scroll together vertically.
72. a - true (07Excl-3-62)  When a window is divided into panes, the values in cells can be changed in any of the four panes.
73. b - false (07Excl-3-62)  To remove one of the split bars from a window, drag the split box to the center of the window or click the split bar.
74. a - true (07Excl-3-63)  Excel not only recalculates all formulas in a worksheet when new data is entered, but also redraws any associated charts.
75. b - false (07Excl-3-65)  When a new assumption is entered, the process of recalculating the worksheet and redrawing the associated chart takes more than five minutes, regardless of how many calculations must be performed or the speed of the computer.
76. d (09Excl-4-4)  In the accompanying figure, the amortization schedule __________.
77. c (09Excl-4-4)  In the accompanying figure, the hyperlink __________.
78. b (09Excl-4-4)  In the accompanying figure, the data table section __________.
79. c (09Excl-4-9)  To control the color and thickness of an outline and border, use the Border tab in the __________ dialog box.
80. d (09Excl-4-10)  It is important that border characteristics be selected in this order: __________.
81. b (09Excl-4-13)  Down Pymt is written as the name __________ when referencing the adjacent cell.
82. b (09Excl-4-13)  Each of the following is true regarding the assignment of names to cells except __________.
83. b (09Excl-4-15)  Labels are different from names in all of the following ways except __________.
84. a (09Excl-4-15)  The general form of the PMT function is __________.
85. d (09Excl-4-15)  When entering the PMT function, to display the monthly payment as a positive number, a __________ can be entered before the loan amount.
86. c (09Excl-4-16)  The PMT function can be entered by clicking the Paste Function button on the Standard toolbar and, when the Paste Function dialog box displays, clicking __________ in the Function category list box and then clicking PMT in the Function name list box.
87. a (09Excl-4-17)  The FV function is one of the more often used financial functions that returns the future value of an investment based on __________.
88. d (09Excl-4-23)  When entering formulas from the loan analysis section into the data table, the best alternative is to __________ because it is the easiest method and, if the formulas in the loan analysis section change, the formulas in the data table are updated automatically.
89. c (09Excl-4-24)  To define a selected range as a Data table, click __________ on the menu bar and then point to Table.
90. c (09Excl-4-47)  To edit a hyperlink, __________ the graphic hyperlink to select it, point to Hyperlink on the shortcut menu, and then click Edit Hyperlink.
91. d (09Excl-4-42)  With Excel, hyperlinks easily can be created to __________.
92. a (09Excl-4-35)  The __________ can be used to determine how much the borrower of a loan owes at the end of each year.
93. b (09Excl-4-33)  When a formula is entered in a cell, Excel assigns the cell the __________.
94. d (09Excl-4-33)  If the logical test is false, then the IF function =IF(G3 <= $E$3, PV($E$2 / 12, 12 * ($E$3 - G#), -$E$4), 0) assigns __________ to the cell.
95. b (09Excl-4-27)  Analysts often look for the row in the data table that agrees with the __________.
96. c (09Excl-4-26)  All of the following are important points about one-input data tables except __________.
97. d (09Excl-4-49)  Cells should be protected only __________.
98. c (09Excl-4-50)  To protect a worksheet, click __________ on the menu bar, point to Protection, and then click Protect Sheet on the Protection submenu.
99. b (09Excl-4-52)  To determine the down payment for a specific monthly payment using the Goal Seek command, click __________ on the menu bar and then click Goal Seek.
100. d (09Excl-4-53)  To quit Excel, click the __________ side of the title bar.
101. a - true (09Excl-4-4)  Two of the more powerful aspects of Excel are its wide array of functions and its capability of organizing answers to what-if questions.
102. a - true (09Excl-4-4)  A data table is used to automate data analyses and organize the answers returned by Excel.
103. b - false (09Excl-4-4)  A major drawback of Excel is its inability to add hyperlinks to a worksheet.
104. b - false (09Excl-4-4)  Cell protection ensures that users will inadvertently change values that are critical to the worksheet.
105. a - true (09Excl-4-7)  Using a column as a separator between sections on a worksheet is a common technique used by spreadsheet specialists.
106. b - false (09Excl-4-9)  The Borders button on the Formatting toolbar is used to control the color and thickness of outlines and borders.
107. a - true (09Excl-4-10)  While cells usually are formatted after values are entered, Excel also allows cells to be formatted before values are entered.
108. a - true (09Excl-4-11)  The Currency style format has no impact on text.
109. b - false (09Excl-4-12)  If a percent sign (%) is appended to 8.25 when it is entered into a cell, Excel automatically formats the number to the Percent style with no decimal places.
110. a - true (09Excl-4-12)  Worksheets often have column titles at the top of each column and row titles to the left of each row that describe the data within the worksheet.
111. a - true (09Excl-4-12)  The Name command on the Insert menu can be used to define descriptive names that are not column titles or row titles to represent cells, ranges of cells, formulas, or constants.
112. b - false (09Excl-4-12)  Naming a cell that will be referenced in a formula makes the formula more difficult to read and remember.
113. a - true (09Excl-4-12)  To name cells, select the range encompassing the row titles that include the names and the cells to be named and then use the Name command on the Insert menu.
114. b - false (09Excl-4-13)  Excel is case-sensitive with respect to names of cells.
115. b - false (09Excl-4-13)  If the Copy command will be used with formulas, it is unimportant whether the formulas contain names or cell references.
116. a - true (09Excl-4-14)  Spreadsheet specialists often assign names to a cell or range of cells so they can select them quickly.
117. a - true (09Excl-4-14)  To select a cell that has been assigned a name, click the Name box arrow and then click the name of the cell to be selected.
118. b - false (09Excl-4-15)  It is necessary to enter commands to assign label names.
119. b - false (09Excl-4-15)  To activate label usage, click Insert on the menu bar, click Object, click the Calculation tab, and select Accept labels in formulas.
120. b - false (09Excl-4-15)  Because loan institutions calculate interest on a monthly basis, when determining a monthly payment the rate value in the PMT function must be multiplied by 12, and the number of payments is divided by 12.
121. b - false (09Excl-4-15)  Excel considers the value returned by the PMT function to be a credit, and therefore, returns a positive number as the monthly payment.
122. a - true (09Excl-4-16)  The PMT function can be entered by clicking the Paste Function button on the Standard toolbar.
123. a - true (09Excl-4-16)  Excel provides more than 50 financial functions that can help solve the most complex financial problems.
124. a - true (09Excl-4-19)  If the value in a cell is changed, Excel immediately recalculates the new results of any formulas that reference the cell directly or indirectly.
125. b - false (09Excl-4-20)  Data tables are built in a used area of the worksheet.
126. a - true (09Excl-4-20)  Within a data table, one or two values can vary and Excel will display the results of the specified formulas in table form.
127. b - false (09Excl-4-20)  In a one-input data table, the values in one or more cells can vary and Excel then calculates the results of one formula and displays the result.
128. a - true (09Excl-4-22)  The cell immediately to the left of the formulas in a one-input data table cannot include an input value.
129. a - true (09Excl-4-23)  The number of formulas placed at the top of a one-input data table depends on the application.
130. b - false (09Excl-4-23)  When entering formulas from a loan analysis section into a data table, the reason cell names are preferred over cell references is that when cell names are used, Excel assigns the format of the cell name to the cell.
131. b - false (09Excl-4-24)  When defining a range as a data table, the section title and column headings are part of the data table because they identify the data table and columns in the table.
132. b - false (09Excl-4-26)  There can be only one active data table in a worksheet.
133. a - true (09Excl-4-26)  To add additional formulas to a one-input data table, enter them in adjacent cells in the same row as the current formulas and define the entire new range as a data table by using the Table command on the Data menu.
134. b - false (09Excl-4-30)  An amortization schedule is limited to 15 years.
135. a - true (09Excl-4-33)  The PV function can determine an ending balance after the first year by using a term equal to the number of months the borrower still must make payments.
136. b - false (09Excl-4-33)  In a function, dollar signs within cell references indicate the cell reference is relative and, therefore, will change as the function is copied.
137. b - false (09Excl-4-35)  If cell I3 has a Currency style format, when the formula =H3-I3 is entered in cell J3 Excel assigns the Currency style format to cell J3.
138. a - true (09Excl-4-35)  The results of IF functions in cells display using the General format, which is the format of all cells when a new workbook is opened.
139. b - false (09Excl-4-40)  The Comma Style button on the Formatting toolbar uses the digit 0 to represent zero.
140. a - true (09Excl-4-42)  A destination file (or hyperlinked file) can be any Office document or HTML file (Web page).
141. a - true (09Excl-4-47)  Once a hyperlink is assigned to an element in a worksheet, the mouse pointer can be positioned on the element to display the hyperlink as a ScreenTip.
142. a - true (09Excl-4-47)  Clicking a graphic hyperlink will display a hyperlinked file.
143. a - true (09Excl-4-48)  If a hyperlink does not connect to a destination file, check to make sure the correct hyperlink was typed in the Type the file or Web page text box in the Insert Hyperlink dialog box.
144. b - false (09Excl-4-49)  When building a worksheet for novice users, cells in the worksheet that should not be changed should be left unprotected, such as cells that contain text and formulas.
145. a - true (09Excl-4-49)  When creating a new worksheet, all of the cells are assigned a locked status, but the lock is not engaged, leaving them unprotected.
146. a - true (09Excl-4-49)  If a cell is protected and the worksheet user attempts to change its value, Excel displays a dialog box with a message indicating the cells are protected.
147. b - false (09Excl-4-49)  Protecting a worksheet is a two-step process: (1) protect the entire worksheet; and (2) select the cells to be left unprotected and change their cell protection settings to an unlocked status.
148. a - true (09Excl-4-52)  If the desired result of a formula is known, goal seeking can be used to determine what value is needed in a particular cell to produce that result.
149. b - false (09Excl-4-53)  In goal seeking, the cell to vary must be referenced directly in the formula or function.
150. b - false (09Excl-4-53)  After clicking the OK button in the Goal Seek dialog box, the worksheet can be reset to the values prior to goal seeking by clicking the Redo button on the Standard toolbar.