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Simple English definitions for legal terms
spreadsheet
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A quick definition of spreadsheet:
A spreadsheet is like a big table that helps people who work with money keep track of it. It has lots of columns and rows where you can put numbers and do math to figure out things like how much money you have or how much you spent. Accountants and auditors use spreadsheets a lot to help them understand financial transactions.
A more thorough explanation:
A spreadsheet is a tool used by accountants and auditors to organize and analyze financial transactions. It is a multicolumn worksheet that allows users to input data and perform calculations.
For example, a company may use a spreadsheet to track their expenses and income. They can input the amount of money spent on various expenses, such as rent, utilities, and supplies, and the spreadsheet will automatically calculate the total expenses. They can also input their income, such as sales revenue, and the spreadsheet will calculate their profit or loss.
Another example is a student using a spreadsheet to track their grades. They can input their grades for each assignment and the spreadsheet will calculate their overall grade for the class.
These examples illustrate how spreadsheets can be used to organize and analyze data in a clear and efficient manner.