Explain the essential differences between perpetual and periodic inventory systems

Why replace cell references with names? Create a simple spreadsheet and paste Sales less Expenses = Net Profit. Q2 Negative numbers (3 marks) Why do accountants display negative numbers in brackets? How can negative numbers be displayed in brackets? Paste a simple spreadsheet example. See: support.office.com/en-us/article/change-the-way-negative-numbers-are-displayed-104b47a6-8ae2-471f-8f73-c4b96e7bb146 Q3 Separation of data and report areas (5 marks) Evaluate why an accountant should design spreadsheets with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example. Q4 IF functions (5 marks) What is an 'IF' statement (function)? Reference a youtube. Provide a spreadsheeted accounting example for net profit/net loss. Q5 Perpetual versus Periodic systems (5 marks) Explain the essential differences between perpetual and periodic inventory systems. Give examples of products/situations suited to each. (Watch the 3 videos on Inventory in Interact2 Resources). Q6 Worksheet and financial reports (12 marks)