The passage given below is followed by four alternate summaries. Choose the option that best captures the essence of the passage.
Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programmes like Lotus 1-2-3. Now, you can perform complex modelling in minutes with Excel. Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
The passage given below is followed by four alternate summaries. Choose the option that best captures the essence of the passage.
Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programmes like Lotus 1-2-3. Now, you can perform complex modelling in minutes with Excel. Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
Option 1 -
Excel spreadsheets revolutionize financial services and accounting, enabling complex modelling and decision-making in finance departments, reducing manual labour and improving efficiency.
Option 2 -
Lotus 1-2-3 has lost its roots since the concept of Excel spreadsheets came along, which has drastically reduced the cost of labour.
Option 3 -
Excel spreadsheets have come a long away after what they did to the financial sector by providing some tools and methods to derive results.
Option 4 -
Excel spreadsheets help various banks and companies formulate data in the easiest way possible, which further helps them make business decisions.
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