Final answer:
The incorrect statement about creating totals on reports is the claim that textual data can be treated like numerical data for sums, averages, minimums, and maximums. In reality, these calculations are applicable only to numerical data.
Step-by-step explanation:
The statement that is NOT true about creating totals on reports is the first one: When you report on textual data, you have the option to ask Access to calculate sums, averages, minimums, and maximums of the data. This statement is incorrect because Microsoft Access and other database management systems typically provide functions to calculate sums, averages, minimums, and maximums only for numerical data, not textual data. Textual data, such as names or descriptions, cannot be summed or averaged. On the other hand, grand totals are indeed used to calculate the total for all records, and subtotals are used to calculate totals for smaller groups of records within the larger dataset. Both grand totals and subtotals can be added to reports after they have been created, which makes it easier to analyze data in more depth.
Regarding the context provided, when handling numerical data that has been categorized (like grades), it is important to follow appropriate rounding rules. For addition and subtraction, the precision of the result should be in line with the least precise measurement used in the calculation. Hence, in reporting statistics or calculations, the level of precision should fit the data's accuracy level.