Question

What are Best Practices for Spreadsheet Models?

-Create an area for variable inputs that is separate from the calculation area.

True
False

Enter numbers directly into a formula. This makes the number easier to track.

True
False

- The model should be well organized and nicely formatted. An easy to follow model helps minimize errors and makes it easy for others to follow.

True
False

Answer 1

1. Best Practices for Spreadsheet Models are mentioned herewith:

Ans: Few of the best practices are mentioned below in bullet points:

-> Seperate Inputs and Calculation

-> Maintain consistency in terms of data

-> Share with relevant groups

-> Keep future additional date in mind

-> Simplify the formulas.

2. Create an area for variable inputs that is separate from the calculation area. - TRUE (User inputs should have seperate tab than the calculation tab).

3.  Enter numbers directly into a formula. This makes the number easier to track. - FALSE (Formulas should always have functions and not numbers).

4. The model should be well organized and nicely formatted. An easy to follow model helps minimize errors and makes it easy for others to follow. - TRUE (Absolutely, because unorganized formatting will not be sustainable).

Hope it solved the query.