Microsoft Excel
Masking exercise
Average difficulty

This Microsoft Excel MASKING exercise is provided to allow potential course delegates to assess their suitability for the Wise Owl EXCEL BUSINESS MODELLING course only, and may not be reproduced in whole or in part in any format without the prior written consent of Wise Owl.

Exercise: Creating a tax holiday mask

A full answer to this exercise is provided as part of the training course!

1)	Download the files needed to start this exercise: exercise-672.zip (and click here if you experience any problems unzipping this file after downloading it).
2)	Your celebrity lives in Azergolia, where the tax regime is as follows: All inhabitants pay tax at a flat rate of 20% on the difference between their revenue and costs for each month.  If they spend more than they earn, they pay no tax. All inhabitants can designate one month of the year to be a tax holiday, in which no tax is payable.
3)	Open the workbook in the folder above, and add the following inputs:
	The tax holiday month can be any number from 1 to 12
4)	In the calculations sheet, calculate: The tax that should be paid each month A mask specifying for each month whether it is a tax holiday or not The actual tax paid for each month
5)	Your final answer should look like this:
	When net revenue is negative, your star pays no tax
You should solve this without using the IF function once!
6)	Save the workbook with the same name, then close it down.

Thank you for showing an interest in this Excel Business Modelling training course! As mentioned above, full answers to this and other exercises are provided on the course. On all Wise Owl scheduled courses delegates can take away these model answers (together with their own efforts!) on a free USB stick.

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