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1. What condition is the Insolvency Check testing for?
Total Liabilities > 0
Net Assets < 0
Total Assets < 0
2. Which of the following is not a way to remove the little green triangle in the top left corner of the error check cells?
Change the format of the error checks to be “Locked”
None of the above
Go to the Options menu, choose the Formulas tab, and deselect “Enable background error checking”
3. Why do we use the name Rounding Accuracy in the Balance Sheet check?
All of the above
It allows a very minor tolerance in the evaluation of the Balance Sheet check (to the nearest cent in our model)
This avoids the use of hard-coded values in the formula
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