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1. What is the first error check that should be performed on the Cash Flow Statement worksheet?
The Balance Sheet balances
If the Indirect Cash Flow Statement has been built, that the Direct and Indirect presentations reconcile
There are no prima facie errors contained in the Direct Cash Flow Statement or the Indirect Cash Flow Statement (where built)
2. Which of the following is the correct syntax for an overall check (i.e. one that considers multiple checks in the range Check_Range)?
3. Which of the following is the most appropriate definition of an error check?
A check that is triggered when a flaw in logic or a prima facie error (e.g. #DIV/0!, #REF!) is detected
A check that is triggered when a material flaw in logic or a prima facie error (e.g. #DIV/0!, #REF!) is detected
A check that is triggered whenever the Direct and Indirect Cash Flows Statements do not reconcile
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