Excel Charts Overview
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Questions and Answers

Which tab contains options for changing the chart type and modifying data depicted?

  • Design (correct)
  • Format
  • View
  • Layout

    • Which of the following is NOT a function available under the 'Add Chart Element' icon?

  • Adding data labels
  • Changing the chart type (correct)
  • Adjusting legend positioning
  • Modifying axes display

    • Why is cash budgeting important for businesses?

  • It is essential for estimating the cash balance each month and analyzing cash flow patterns. (correct)
  • It is a tool used for tracking inventory levels and managing stock.
  • It primarily helps in calculating employee salaries accurately.
  • It is used to determine the number of employees required for each department.

    • What does the 'Axes' group of menu items primarily control?

    <p>Formatting the appearance of the chart's axes (D)</p> Signup and view all the answers

    What is the primary benefit of understanding cash flow patterns for a business?

    <p>It helps in negotiating short-term loan terms with financial institutions and building a cash flow management strategy. (A)</p> Signup and view all the answers

    Which menu item is used to add a line demonstrating relationships in data?

    <p>Trendline (D)</p> Signup and view all the answers

    Which menu tab needs to be clicked to insert a chart into an Excel worksheet?

    <p>The 'Insert' menu tab. (D)</p> Signup and view all the answers

    Which chart element modifications are controlled in the 'Format' tab?

    <p>Color and textual elements (C)</p> Signup and view all the answers

    When do the 'Chart Tools' menu items appear in Excel?

    <p>When a chart is selected or highlighted in the worksheet. (A)</p> Signup and view all the answers

    What is the primary function of the 'Data Table' menu item?

    <p>Displaying numeric values for elements (D)</p> Signup and view all the answers

    Which of the following can be accomplished using the 'Chart Title' and 'Axis Titles' menu items?

    <p>Adjusting title placement (B)</p> Signup and view all the answers

    How does the Excel menu scheme behave based on the tasks performed and user actions?

    <p>It is dynamic and changes depending on the tasks being performed. (C)</p> Signup and view all the answers

    What are the two menu tabs associated with the 'Chart Tools' menu scheme in excel?

    <p>'Design' and 'Format'. (C)</p> Signup and view all the answers

    Which tab would you use to change the color scheme of a chart?

    <p>Design (B)</p> Signup and view all the answers

    Besides estimating monthly cash balances, what else can cash budgeting be used for?

    <p>Analyzing patterns in cash flows. (B)</p> Signup and view all the answers

    What can be achieved by customizing the Excel menus?

    <p>Fit the menus to personal work habits. (D)</p> Signup and view all the answers

    What is the PRIMARY function of column charts, as described?

    <p>To compare different categories of items or the same category over time. (C)</p> Signup and view all the answers

    In a column chart, where are the item categories (or different times) typically displayed?

    <p>Along the horizontal axis, providing a basis for comparison. (B)</p> Signup and view all the answers

    Where can you find the 'Column' menu for inserting a column chart in Excel?

    <p>In the 'Insert' menu tab, under the 'Charts' group. (D)</p> Signup and view all the answers

    Besides a two-dimensional column chart, what other column chart options are typically available?

    <p>Three-dimensional column charts and bar charts. (C)</p> Signup and view all the answers

    In Excel, where is the "Select Data" option located, which is used to specify the data for a chart?

    <p>In the 'Data' group of the 'Design' tab within 'Chart Tools'. (A)</p> Signup and view all the answers

    What is the likely outcome if you highlight the relevant data in your worksheet BEFORE inserting a chart in Excel?

    <p>Excel will automatically create a chart that closely matches your desired result. (A)</p> Signup and view all the answers

    What is the first step mentioned when manually specifying the data to be used in a chart?

    <p>Clicking on 'Select Data' in the 'Data' group of the 'Design' tab. (A)</p> Signup and view all the answers

    What is the name of the dialog window that appears after clicking "Select Data"?

    <p>&quot;Select Data Source&quot; (D)</p> Signup and view all the answers

    What is the primary reason for displaying cash collections and disbursements side-by-side in a chart?

    <p>To provide a meaningful basis for comparison. (D)</p> Signup and view all the answers

    Which menu tab would you use to insert a 2-D column chart?

    <p>Insert (A)</p> Signup and view all the answers

    In the 'Select Data Source' window, what information is added to the 'Legend Entries (Series)' field?

    <p>Total Cash Collections and Total Cash Disbursements. (B)</p> Signup and view all the answers

    What is the purpose of adding a title to the chart?

    <p>To inform viewers about the chart's content. (D)</p> Signup and view all the answers

    What does the legend in the chart represent?

    <p>Which color represents collections and which represents disbursements. (A)</p> Signup and view all the answers

    Where can you find the 'Add Chart Element' to add a legend?

    <p>Design Tab (C)</p> Signup and view all the answers

    What does it mean if cash collections are consistently higher than cash disbursements in the chart?

    <p>Timmins Company must have positive total cash flows each month. (A)</p> Signup and view all the answers

    What action might an analyst take if cash disbursements are higher than cash collections for some months?

    <p>Analyze why cash collections were higher than cash disbursements for some months. (C)</p> Signup and view all the answers

    What is the purpose of the 'Legend Entries (Series)' area in the 'Select Data Source' dialog window?

    <p>To add and manage data series for the chart. (D)</p> Signup and view all the answers

    What is the first step to remove the legend from a chart?

    <p>Click on the plus icon and uncheck the box next to the ‘Legend’ menu item. (C)</p> Signup and view all the answers

    What text should the title of the cash collection chart read?

    <p>Total Cash Collections (A)</p> Signup and view all the answers

    How can you add the ending cash balance data series to the chart?

    <p>Click 'Add' in the 'Legend Entries (Series)' area. (B)</p> Signup and view all the answers

    Which feature allows you to change the font properties of the chart title?

    <p>Home menu tab (D)</p> Signup and view all the answers

    Where do you input the month labels for the horizontal axis in the 'Select Data Source' window?

    <p>In the 'Axis Labels' dialog window. (B)</p> Signup and view all the answers

    To add data labels above each column, which option must be selected?

    <p>Outside End (A)</p> Signup and view all the answers

    What is indicated about the chart legend when there is only one data series?

    <p>It makes sense to remove it from the chart. (C)</p> Signup and view all the answers

    What are the series values for the total cash disbursements chart?

    <p>E32:G32 (C)</p> Signup and view all the answers

    What should you do after reviewing the data selected for the chart?

    <p>Click 'OK' to exit the 'Select Data Source' dialog. (D)</p> Signup and view all the answers

    What should be the title of the cash disbursements chart?

    <p>Timmins Company Total Cash Disbursements (A)</p> Signup and view all the answers

    In the context of the provided content, what is the purpose of the 'Add Chart Elements' button?

    <p>To modify chart attributes such as titles and labels. (A)</p> Signup and view all the answers

    What is the cell range for the values of the 'Cash Budget' series?

    <p>E31:G31 (D)</p> Signup and view all the answers

    Why are charts beneficial for cash receipts and disbursements?

    <p>They visualize patterns in cash flows. (D)</p> Signup and view all the answers

    What discrepancy is noted regarding Timmins Company's cash disbursements and cash collections?

    <p>Disbursements are visually larger than collections. (D)</p> Signup and view all the answers

    What is the first step to editing a data series in the chart?

    <p>Open the 'Edit Series' dialog window. (A)</p> Signup and view all the answers

    Flashcards

    Design Tab

    A section in the Chart Tools menu for high-level chart manipulations.

    Add Chart Element

    An icon that allows modification of chart details like titles and legends.

    Axes Group

    Menu items used to format the appearance and units of chart axes.

    Chart Title

    The main title of the chart indicating its content.

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    Data Labels

    Displays numeric values for chart elements.

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    Legend

    Describes chart data categories and their colors.

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    Format Tab

    Menu for modifying colors, fonts, and aesthetics of charts.

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    Trendline

    A line added to a chart to show statistical relationships in data.

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    Cash Budgeting

    The process of estimating cash inflows and outflows for a specific time period.

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    Spreadsheet Application

    Software used to organize and analyze data in tabular form, like Excel.

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    Chart Types

    Different visual representations of data available in a spreadsheet application.

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    Insert Menu Tab

    The section in Excel used to add various elements like charts and images to a worksheet.

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    Chart Tools Menu

    A set of tools available in Excel for designing and formatting charts.

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    Cash Receipts and Disbursements

    Cash inflows and outflows tracked in a cash budget.

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    Remove Chart Legend

    Uncheck the box next to 'Legend' to remove it from the chart.

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    Change Chart Title

    Click on the title and edit it to 'Total Cash Collections'.

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    Edit Font Properties

    Modify size and font properties using the 'Home' menu tab in Excel.

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    Add Data Labels

    Select 'Add Chart Element' and choose 'Data Labels' to show totals on the chart.

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    Outside End Data Labels

    Select 'Outside End' option to place labels above each column.

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    Create Column Chart

    Insert a 2-D column chart from the 'Insert' menu for cash data.

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    Edit Series in Chart

    In 'Edit Series', use B32 for name and E32:G32 for values of cash disbursements.

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    Visual Comparison of Charts

    Compare 'Total Cash Collections' and 'Total Cash Disbursements' charts visually.

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    Column Chart

    A chart that displays data in vertical bars to compare categories.

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    Horizontal Axis

    The axis in a column chart that represents categories.

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    Vertical Axis

    The axis in a column chart that indicates values.

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    2-D Column Chart

    A flat column chart that displays data with height only.

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    3-D Column Chart

    A column chart that adds depth to the columns for visual effect.

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    Select Data

    Option used to specify the data for the chart.

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    Select Data Source

    A dialog window for defining data series and axis labels for a chart.

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    Legend Entries

    Area in the 'Select Data Source' where data series are defined.

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    Data Series

    A set of data intended for inclusion in a chart.

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    Edit Series

    A dialog used to add or modify data series in a chart.

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    Horizontal Axis Labels

    Labels that identify categories shown on the horizontal axis of a chart.

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    Removing Legend

    The act of deleting the chart legend when only one data series exists.

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    Chart Legend

    A key that explains the colors or patterns in the chart.

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    Positive Cash Flow

    When cash collections exceed cash disbursements for a period.

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    Study Notes

    Excel Charts

    • Excel's menus change depending on the task. Chart menu options appear when working with charts.
    • To create a chart, insert it into the spreadsheet by selecting the 'Insert' menu tab. Different chart types are available.
    • To work with a chart, the 'Chart Tools' menu appears. 'Design' and 'Format' tabs allow manipulation and design changes.
    • The 'Design' tab provides high-level chart manipulations (type selection, data modification, layout and color templates, location).
    • The 'Add Chart Element' icon on the 'Design' tab allows detailed chart element modification (titles, legends, data labels).
    • 'Axes' allows axis formatting, 'Chart title' and 'Axis Titles' allow title placement/modification, and 'Legend' manages legend positioning and display.
    • The 'Format' tab modifies chart color and text.
    • Column charts compare data across categories/over time.
    • Column charts are suitable for comparing a limited number of categories (10 or fewer categories/time series).
    • Bar charts are similar to column charts but rotated 90 degrees.

    Working with Column Charts in Excel

    • Use the 'Insert' menu tab to select a column chart type, 2D or 3D.
    • Data for the chart needs to be selected (the spreadsheet data). Excel automatically creates the chart if data is highlighted before insertion. Alternatively the 'Select Data Source' option allows users to manually choose what data is to be displayed on a chart.
    • 'Select Data Source' area defines 'Legend Entries (Series)' and 'Horizontal (Category) Axis Labels'.
    • Data series represent data displayed on the chart.
    • The 'Horizontal (Category) Axis Labels' area includes month labels as data.
    • The 'Edit Series' window allows modifying the series name and data.
    • Chart titles and titles on axis should be added and edited.
    • Chart legends should be removed/added based on requirement. Data labels for each series should be added for visual aid. Labels may be displayed on each column using the 'Outside End' option.
    • Titles and Data labels should be added and edited.
    • Charts can be used to analyze cash budgeting and adjust business operations.

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    Related Documents

    Excel Charting for Cash Receipts and Disbursements PDF

    Description

    Explore the basics of creating and modifying charts in Excel. This quiz covers menu options, chart types, and design strategies using the Chart Tools. Perfect for anyone looking to enhance their data visualization skills.

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