Question

Long Answer Questions:
1. What are the advantages of an electronic spreadsheet?
2. Mention three limitations of a manual spreadsheet.
3. Enlist the features of an electronic spreadsheet.​

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

ans 1 ) Advantages of using an electronic spreadsheet:

Easy to move copy, edit, and delete table entries.

Easy to format design and appearance of table.

Ability to perform "what-if" or sensitivity analysis by changing values to see how related entries are adjusted.

ans2) Collaboration is Limited

Working with spreadsheets in reinsurance means only one person can access and edit the data at a time, without taking or being sent a copy of it. In some instances, recipients even end up being sent the wrong version which can lead to errors in data. With a system, multiple people can look at and work on the most up-to-date data simultaneously and have confidence the data quality.

Explanation:

Lack of controls, vulnerable to fraud

Spreadsheets do not possess any built-in, automatic audit tracking function. For example, who accessed the data last, who did what and when to the spreadsheet? How do you know if the calculations are correct? How do we know results remain accurate after months, quarters, and years of use? There is always new data entering spreadsheets and new users managing them. What controls are established to ensure the spreadsheet remains bug free.

. Not prepared for disaster

If there are no best practices put in place for proper spreadsheet storage or back up, your reinsurance programme is at major risk when disaster strikes. If something happens, full data recovery can be very difficult if not impossible, and will have a major impact on your business.

ans3) The basic features of a spreadsheet program are given below:

Grids, Rows & Columns. A spreadsheet consists of a grid of columns and rows. ...

Functions. Functions are used in the Spreadsheet software to evaluate values and perform different kinds of operations.

Formulas. ...

Commands. ...

Text Manipulation. ...

Printing. ...

Title Bar. ...

Menu Bar.

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