using excel decision-making functions...may 02, 2017 · iferror and ifna are also covered. you...

Using Excel Decision-Making Functions

Patricia McCarthy

Course # 2164522, Version 2007, 3 CPE Credits

Course CPE Information

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Course CPE Information Course Expiration Date Per AICPA and NASBA Standards (S9-06), QAS Self-Study courses must include an expiration date that is no longer than one year from the date of purchase or enrollment. Field of Study Computer Software & Applications. Some state boards may count credits under different categories—check with your state board for more information. Course Level Intermediate. Prerequisites There are no prerequisites. Advance Preparation This course is designed for professionals using Excel 2019 and Microsoft 365. If you have an earlier Excel version, you should have no difficulty however you will not have access to all of the functions covered here Course Description This course overviews several Excel Logical functions, such as IF, IFS, AND, OR and then covers other decision-making functions such as AVERAGEIF, SUMIF, SUMIFs, COUNTIFs and MAXIFS. IFERROR and IFNA are also covered. You will find these functions useful in your budgeting and analysis work. This eBook includes exercise files. © Copyright Mill Creek Publishing 2020 Publication/Revision Date July 2020

Instructional Design

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Instructional Design This Self-Study course is designed to lead you through a learning process using instructional methods that will help you achieve the stated learning objectives. You will be provided with course objectives and presented with comprehensive information and facts demonstrated in exhibits and/or case studies. Review questions will allow you to check your understanding of the material, and a qualified assessment will test your mastery of the course. Please familiarize yourself with the following instructional features to ensure your success in achieving the learning objectives. Course CPE Information The preceding section, “Course CPE Information,” details important information regarding CPE. If you skipped over that section, please go back and review the information now to ensure you are prepared to complete this course successfully. Table of Contents The table of contents allows you to quickly navigate to specific sections of the course. Learning Objectives and Content Learning objectives clearly define the knowledge, skills, or abilities you will gain by completing the course. Throughout the course content, you will find various instructional methods to help you achieve the learning objectives, such as examples, case studies, charts, diagrams, and explanations. Please pay special attention to these instructional methods, as they will help you achieve the stated learning objectives. Review Questions The review questions accompanying this course are designed to assist you in achieving the course learning objectives. The review section is not graded; do not submit it in place of your qualified assessment. While completing the review questions, it may be helpful to study any unfamiliar terms in the glossary in addition to course content. After completing the review questions, proceed to the review question answers and rationales. Review Question Answers and Rationales Review question answer choices are accompanied by unique, logical reasoning (rationales) as to why an answer is correct or incorrect. Evaluative feedback to incorrect responses and reinforcement feedback to correct responses are both provided. Glossary The glossary defines key terms. Please review the definition of any words you are not familiar with. Index The index allows you to quickly locate key terms or concepts as you progress through the instructional material.

Instructional Design

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Qualified Assessment Qualified assessments measure (1) the extent to which the learning objectives have been met and (2) that you have gained the knowledge, skills, or abilities clearly defined by the learning objectives for each section of the course. Unless otherwise noted, you are required to earn a minimum score of 70% to pass a course. If you do not pass on your first attempt, please review the learning objectives, instructional materials, and review questions and answers before attempting to retake the qualified assessment to ensure all learning objectives have been successfully completed. Answer Sheet Feel free to fill the Answer Sheet out as you go over the course. To enter your answers online, follow these steps:

1. Go to www.westerncpe.com. 2. Log in with your username and password. 3. At the top right side of your screen, hover over “My Account” and click “My CPE.” 4. Click on the big orange button that says “View All Courses.” 5. Click on the appropriate course title. 6. Click on the blue wording that says “Qualified Assessment.” 7. Click on “Attempt assessment now.”

Evaluation Upon successful completion of your online assessment, we ask that you complete an online course evaluation. Your feedback is a vital component in our future course development.

Western CPE Self-Study 243 Pegasus Drive

Bozeman, MT 59718 Phone: (800) 822-4194

Fax: (206) 774-1285 Email: [email protected] Website: www.westerncpe.com

Notice: This publication is designed to provide accurate information in regard to the subject matter covered. It is sold with the understanding that neither the author, the publisher, nor any other individual involved in its distribution is engaged in rendering legal, accounting, or other professional advice and assumes no liability in connection with its use. Because regulations, laws, and other professional guidance are constantly changing, a professional should be consulted should you require legal or other expert advice. Information is current at the time of printing.

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Table of Contents

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Table of Contents Course CPE Information .............................................................................................................. i Instructional Design ...................................................................................................................... ii Table of Contents ......................................................................................................................... iv

Using Excel Decision-Making Functions .................................................................................... 1

Learning Objectives .................................................................................................................................. 1

Overview .................................................................................................................................................. 1

IF Statements ............................................................................................................................................ 2 Text in an IF Statement ........................................................................................................................................ 4

Review Exercise ....................................................................................................................................... 7

Nested IF .................................................................................................................................................. 8

IFs FUNCTION ...................................................................................................................................... 11

Review Exercise ..................................................................................................................................... 13

Embedded IFs ......................................................................................................................................... 14

Review Exercise ..................................................................................................................................... 18

IFERROR and IFNA .............................................................................................................................. 19

AND, OR, and NOT ................................................................................................................................. 1

Review Exercise ....................................................................................................................................... 4

Review Questions ..................................................................................................................................... 5

SUMIF ...................................................................................................................................................... 7

Review Exercise ....................................................................................................................................... 9

AVERAGEIF ......................................................................................................................................... 10

COUNTIF ............................................................................................................................................... 11

The Plurals .............................................................................................................................................. 14

Review Exercise ..................................................................................................................................... 19

SWITCH ................................................................................................................................................. 20

Review Questions ................................................................................................................................... 21

Review Question Answers and Rationales ............................................................................................. 22

Glossary ....................................................................................................................................... 25

Index ............................................................................................................................................. 26

Qualified Assessment .................................................................................................................. 27

Answer Sheet ............................................................................................................................... 31

Course Evaluation ....................................................................................................................... 32


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Using Excel Decision-Making Functions Learning Objectives After completing this section of the course, you will be able to:

• Identify different decision-making functions, noting their purpose and how to access them in Excel

• Recognize the components and characteristics of the different decision-making functions • Recognize the syntax of different decision-making functions in order to understand the

calculation specifications for a desired answer • Recognize the characteristics and requirements of nested and embedded functions within

an IF statement, noting differences and usage Overview Excel offers a variety of Logic Functions that allow you to test a cell to answer the question “Is this true or false?” Most people have heard of IF statements and that is what we are going to start with. We are going to create a simple IF statement to determine whether a salesperson has met or achieved his sales quota. From there, we will build and create a nested IF which is combining multiple IF statements together since a simple IF statement can only test for 2 conditions (one true and one false) and sometimes you one to test for more than 2 conditions. In our example, we are going to start by looking at a travel company trying to determine if their bike tours are full, under booked or overbooked. We will also take a look at a Excel 2019 function called IFs that takes the work out of doing a nested IF. Then, we will move on to an embedded IF which is similar to a nested IF, only in this case you are combining an IF statement with a different function. Then, to complete the Logic category, we will look at the AND and the OR functions and combine those with an IF. These can be very powerful as they allow you to test up to 30 different conditions at one time. We will then finish by looking at two other extremely useful functions that ask the question “Is this true?”. However, they are not considered Logic Functions because they only look at the “true” component. SUMIF is a Math and Trig Function that sums or adds up whatever is true and COUNTIF is a Statistical function that counts whatever is true. We will also overview similar functions, nicknamed the Plurals, SUMIFs, COUNTIFs and AVERAGEIFs, MAXIFS and MINIFS which while similar can test up to 127 conditions. It sounds like a lot; however, we will be going through this in a step by step process. There is an explanation of what we are going to do and then you will see a YOU TRY IT! exercise which prompts you to open a specific Excel file and select a sheet or tab. The steps and screenshots walk you through it. Each exercise has an answer sheet so you can compare your answer to it. We will finish with a quick overview of the SWITCH function. Periodically, you will see a review exercise that is designed for you to try on your own. Generally, they provide fewer instructions but they are similar to the You TRY IT exercise, you have just completed. Each exercise has an answer sheet with the answer and sometimes it also displays screenshots.


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I think you will find this one of the most useful CPE courses that you have ever taken! If you are looking for more Excel tips check out my blog “Chatting about Excel and More on Excel-Diva. The URL is http://excel-diva.blogspot.com/ IF Statements Logical functions allow you to analyze data and make decisions based upon parameters that you specify. The most familiar logic function is = IF(); although, Excel offers a number of logic functions and surprisingly some “logic” functions that are not found in the Excel logic category. The IF() function evaluates the parameters that you have set and determines one of two conditions:

1. If the resulting condition is negative (or not true) then one action is taken or 2. If the resulting condition or answer is correct (or true) then another action is taken

Since logic functions can be applied to a multitude of situations they are considered quite powerful. Some examples of situations include:

• Determining if a salesperson met their quota so that a bonus can be determined • Testing a number of different requirements for executive bonus payouts • Determining what discount a customer qualifies for based upon his purchases

In the following example, we are going to test and determine whether salespeople qualified for a sales contest trip to Hawaii. To qualify, the salesperson’s first quarter sales must have equaled or exceeded his or her quota. Operators used in the logical test:

= Equal to > Greater than >= Greater than or equal to < Less than <= Less than or equal to <> Not equal

Tip: Many people forget about that last operator < >. It can often be quite useful sometimes to select that rather than making a nested statement testing multiple variables. YOU TRY IT!

1. Open IF.xlxs and click on the sheet named Sales Trip Look at row 6. Brady had 1st quarter sales of 64,000 and a quota of 62,700 so we know that he did qualify for the trip since he beat his quota. Let’s see if Excel agrees.

2. Click in cell G6 and click on the fx icon located directly above Column C and D (on the formula entry bar)

3. From the Select a category: drop-down box, select Logical 4. Select the IF function from the Select a function: section

http://excel-diva.blogspot.com/


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5. Click OK A Function Arguments dialog box will display.

6. In the Logical_test component, type E6>=F6 This is testing “Is Qtr1 sales greater than or equal to the quota value in cell F6?”

7. In the Value_if_true, type "Yes" If the test is met (i.e., if it is true), then display Yes as the salesperson qualifies.


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8. In the Value_if_false, type " " (type an empty set of quotes) If the test is not met—if it is false—then enter a blank space.

9. Click OK

You should see the word Yes display in G6.

10. Copy the formula down for the other salespeople You should see that Brees did not qualify for the trip. Try changing Brady’s quota in F6 to 80,000. Notice that he no longer qualifies for the trip. Excel automatically updates the answer as values change. Tip: Always make sure that you test the entire formula. In other words, test both a true and a false scenario to make sure everything works properly. Don’t assume that since you had the correct answer for Brady that you do for someone who did not qualify. Text in an IF Statement If you are using text in your IF statements, then it needs to be enclosed in quotation marks. The quotation marks inform Excel that you want the text to be displayed exactly as typed. This is true whether the text is in the conditional test, the true component, or the false component.


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Tip: If there is no formula result displayed in the dialog box then you have an error and it maybe that you forgot a quotation.

Anything in quotes is treated as a literal so you do not want to put quotes around numbers or formulas. =IF (E6>=F5,"Yes"," ") =IF (E6>=F5, "Yes", 0) In the first IF statement shown above, Excel will display the word Yes if the salesperson qualifies for the sales trips and it will display a blank for salespeople who did not qualify. In the second IF statement, Excel will display a zero if the salesperson does not qualify. If quotations are placed around the 0, Excel would not be able to do any mathematical calculations on the cell containing the 0 as it would assume it was text. YOU TRY IT! This next exercise uses some basic mathematical calculations in an IF statement. We are going to determine the base pay + bonus for each salesperson. Their bonus is 10% of Base Sales if they met or exceeded quote. The base salary of each person is shown in column B. Their quarterly sales and their total sales are shown in Columns C through G and the quota they had to meet is displayed in Column H.

1. Open IF.xlsx and click on the Bonus sheet 2. Click in cell I6 and click on the button 3. From the Select a category: drop-down, select Logical 4. Select IF from the Select a function: section

Tip: Excel usually remembers and displays the last function category that you used.

5. Click OK


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6. In the Logical_test component, type G6>=H6 This is testing “Is Total Sales in G6 greater than or equal to the quota in cell H6?”

7. In the Value_if_ true, type B6+(G6*10%). Make sure that you don’t put quotes around the equation. Only text needs quotes. If the test is met, then the salesperson would have earned their Base Pay of $25,000 + bonus (10% *$259,578) which would equal $50,957.80.

Tip: You can use either % or decimals.

8. In the Value_ if_false, type B6

If the test is not met (if the salesperson did not meet their quota), then all they earned was their base pay, which can be found in cell B6 and is $25,000.

9. Click OK 10. Copy the formula down


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Review Exercise If you are looking for additional practice on simple IF statements before moving on to more complex IF statements, then click on the sheet Practice in IF.xlsx.

1. Click in cell E6. 2. Create an IF statement that tests to see if actual units (Column C) are greater than or

equal to forecasted units (Column D). 3. If actual units are greater than or equal to forecasted units, then display a blank cell;

otherwise display the shortfall of forecasted units from actual units (Column D-Column C).

Compare your results to the answer provided in the Practice Answer sheet. Tip: If you want to look at the formula or edit it, click . The formula will appear unless it has a serious flaw.


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Nested IF IF statements, as you have seen, can be quite useful; however, they can be limiting since you can only test two conditions. A way around this is to nest IF statements together so you can test for several conditions at once. To do this, you will need to create a nested IF by using an IF function within another IF statement. Creating a nested IF is fairly simple; however, be aware that you will need to watch the placement of the parentheses since in Excel 2007 you can nest up to 64 levels. Tip: If you are ever considering nesting anything close to 64 IF statements, I strongly recommend you consider other functions, particularly the VLOOKUP or INDEX MATCH functions. In addition, sequencing of your tests or logical conditions is very important. You’ll need to carefully consider the sequence of your tests or conditions as the IF statement tests each condition as it reads it. If it does not find that any of the conditions are true, it automatically treats it as a false. Some examples for using a nested IF statement include:

• Offering customers various discounts based upon a pricing schedule • Calculating bonus incentives based upon pay grade and other parameters • Pricing items depending upon condition, price, or date of purchase.

To create a nested IF with three conditions

1. Start the IF, as you normally would and enter the Logical_test and the Value_if_True argument

2. Click in the Value_if_False argument, and click on the drop-down arrow in the Name Box (above column A and above row 1) and select IF

The dialog box collapses and is replaced with a brand new IF dialog box. (If you check the formula bar, you will see the earlier part of the formula still exists.) 3. Enter the next test, the true and the false argument 4. Click OK to see the resulting answer 5. Copy the formula down if you are satisfied with it

Warning: The most common error is inadvertently clicking twice or having the cursor in the wrong spot. If you see a plus (+) as if Excel is trying to add 2 IFs together, then you need to clear the formula entry bar and start again. YOU TRY IT! In this exercise, you are going to test for 3 conditions. You will need to use 2 IF statements since a single IF only allows you to test for two conditions. For the travel agency, you need to determine which bike tours are overbooked, which are full, and which are underbooked.

1. Open Nested_IF.xlsx and select the sheet named Bike Trip 2. Click in cell E14 and click on the button


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allows you to access the list of functions. Excel will place the answer in cell E14 and display the Tour Status

3. From the Select a category: drop-down box, select Logical 4. From the Select a function: list, select IF 5. Click OK 6. In the logical test component, type C14>D14

This is testing “Is Tour Capacity greater than Number Booked?” 7. In the Value_if_true, type “Underbooked”

If the test is met, then the Tour is overbooked 8. Click in the Value_if_false argument box

If the test is not met, we have 2 conditions left (Full and Overbooked) so we need to access another IF Statement. Make sure that your cursor is in the Value_if_false argument or this will not work properly.

9. Click on the drop-down arrow in the Name Box (located above row 1)

10. Select the IF statement We are accessing a 2nd IF function. The initial function has not disappeared. It is still in memory and can be seen at the formula entry bar.

11. In the logical test type, C14=D14 This is the second test. “Is capacity equal to number booked?”

12. In the Value_if_true, type “Full” If capacity and # booked are equal, then the trip is full. Don’t forget the quotation marks around the word Full.

13. In the Value_if_false type “Overbooked” If it is not underbooked and it is not full, then it must be overbooked. Don’t forget the quotation marks.


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Note: Excel tests each condition it finds and if the test is not met then it moves on. In this case, if no other test is met, then it must be Overbooked.


If you go back to edit or look at the formula, you will see that Excel combines the IF statements so that it looks like the example below.


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IFs FUNCTION Let’s take this same exercise and use the IFs function. This function is available if you have Excel 2019 or Office 365. IFs() allows you to test up to 127 different conditions, however, creating that many is not recommended for the reasons stated above in the nested IF section. In many ways, using this function is much easier than using a nested IF. However, be aware that there is no False component in the syntax. Excel tests to see if your test is true and if it is then it returns that value. If it is not true and it cannot find a True somewhere in the arguments, then it displays a #N/A error. Let’s try it

1. Click on the sheet named Bike Trip with IFs. This sheet is the exact same scenario as the one you just competed. However, in this example, we are going to use IFs().

2. Click in cell E14.

3. Click the icon and select Logical.

4. Click IFs. 5. Click OK.


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6. Enter the first Logical test in Logical_test1 which was C14>D14. 7. In the Value if true1, type “underbooked”. 8. In the Logical_test2, type C14=D14. 9. In the Value_if_true2, type “Full”. 10. In the Logical_test3, type C14<D14. 11. In the Value_if_true3, type “overbooked”. 12. Click OK. 13. If you don’t see Logical_test3 in the dialog box, you may need to scroll down in the

dialog box to see it.

As I mentioned, quite a bit easier. If you could not find the function in the logical section, then that means your version of Excel does not have it.


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Review Exercise Recall the importance of sequencing of the tests or the conditions. This matters particularly if you are testing years and numbers. Remember, Excel tests each condition and anything that is not “true” gets lumped into the last condition. In the first example, anything that was not underbooked or full automatically fell into the overbooked category. The following review exercise is located on the sheet named Sale Time in Nested_IF.xlsx. This example gives a pricing scenario where the tag price is based upon the model year of the car.

• All products with a model year before 1998 should be tagged Clearance. • All products from 1998 on should be tagged Sale. • All products with a 2000 model year should be marked Regular Price.

1. Click in cell E7 and create a nested IF, or use IFS and test, for the pricing scenarios

above 2. Copy it down

Tip: Start with the highest number or year and work your way down. The answers can be found in the sheet that follows. There are different ways to create the calculation so if your calculation is not identical don’t worry as long as it works for all the model years.

Optional Challenge Review Exercise: Try the Challenge-Nested with 3 IFs which is located in the same file. Check the answer sheet to compare results.


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Embedded IFs An embedded IF statement is almost identical to a nested IF statement except that instead of nesting an IF within an IF, you nest a different function inside. The three most common function categories to nest inside an IF are logic functions, information functions, and lookup functions. Let’s take a look at an information function called ISERROR. Many times, particularly when importing data, a formula may return an error message such as #N/A or everyone’s favorite #DIV/0! These error messages generally negate the professional look of a report so many Excel users like to get rid of them in order to clean up the appearance.

The ISERR and ISERROR functions test whether a formula displays an error message and returns a TRUE if there is an error message or a FALSE if there is not an error message. By themselves, neither of these functions is too exciting; however, when combined with an IF they become particularly useful. Before we join them together, let’s take a look at ISERROR and make sure you understand it. YOU TRY IT! In this exercise, we are going to test cell F7, as shown in the screenshot above, to see if the cell contains an error value. Obviously, we can look at it and see that it does not contain an error so we should expect it to display an answer of false. Whereas, cell F9 contains an error and should display a false.

1. Open Error_EmbedIf.xlsx and click on the sheet named ISERROR 2. Click in cell G7 and click on the button 3. From the drop-down box in the Select a function: dialog box, click on Information


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4. Select the ISERROR function 5. Click OK 6. Click in the Value box and type F7 (or click on cell F7)

You are testing cell F7 to see if it contains an Error message.

7. Click OK False displays, showing that there is no error in cell F7.

8. Copy the formula down Notice that cell G9 displays True to reflect that cell F9 contains an error.


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Not overly exciting is it? However, you need to understand how the ISERROR function works before it is combined with an IF. You may find the next part more interesting and a lot more useful. YOU TRY IT! The following exercise contains sales and returns. We want to create a new column called % returns; however, because some of the cell entries in column F have #N/As, it looks messy and the new column will not look very professional.

You are going to create an IF statement that tells Excel that when it divides Column E and F, it should just display a blank, if the resulting answer is an error; otherwise, it should display the correct answer. Tip: Sometimes when creating complex and nested IF statements, it is difficult to get back into the dialog box to add in the TRUE/FALSE components. It is recommended that you do the TRUE and FALSE components first and then do logical test if you are embedding another function. Warning: When clicking in the Name Box to select the function to embed in the IF statement, you may need to scroll to the bottom of the list and select to find it. Then, once you have used the function, Excel remembers it.

1. Open Error_EmbedIF.xlsx and click on sheet named IF and ISERROR 2. Click in cell G6 and click on the button 3. Select Logical as the function category 4. Select the IF function. 5. Click in the Value_if_true argument and type " " (an empty set of quotes) 6. Click in the Value_if_false argument and type F6/E6


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Note: Make sure your cursor is in the correct spot in the dialog box. We are telling Excel that if there is an Error message to just display a blank cell. If the test is false (i.e., if there is no error), then divide sales and returns to determine the % of returns.

7. Click in the Logical_test argument 8. Click on the drop-down arrow beside the Name Box

Warning: Do not click on the Name Box itself and select the ISERROR function. You are nesting the ISERROR function inside the IF. You need to click on the drop-down arrow beside the Name Box. If you click on the Name Box, it will assume you want another IF function and retrieve that instead of letting you select ISERROR. If you can’t find the ISERROR function, click on the More Functions at the bottom of the function list.

9. In the ISERROR value argument type F6/E6 You are testing to see if F6/E6 creates an error message—this is what the IF will test.


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10. Click OK The ISERROR component of the formula is complete.


Review Exercise Open the Excel file Error_EmbedIF.xlsx and click on the sheet named NO DATA. This is essentially the same exercise as the one just completed; however, this time if there is an error, we want the words “No Data” to display instead of a blank. If there is no error, then the % return which is F6/E6 should be calculated and display. The answer is on the NO DATA Answer sheet in the Excel file.


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IFERROR and IFNA Excel 2007 introduced a new function called IFERROR that essentially combines the IF and the ISERROR function. This function will meet your needs most of the time; however, I still thought it important to show you how the ISERROR and the IF worked together as many people are still using Excel 2003. In addition, it is important to understand how the information functions work. With IFERROR, the syntax of the function is easier as it does not require a TRUE and a FALSE component. If the value or resulting calculation does not have an error, then the answer is automatically entered into the cell. If the resulting calculation will be an error, then you can tell Excel what to replace it with. In the example below, Excel will display a blank space if the resulting answer is an error.

LET’S TRY IT! Use IFERROR to replace any error values with a blank or empty cell.

1. Open IFERROR.xlsx and select the sheet named IFERROR 2. Click in cell G6 and click on the button 3. From the Select a category: drop-down list, select Logical 4. Select the IFERROR function from the Select a function: list


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5. Click OK 6. Click in the Value_argument (make sure you are in the correct spot in the dialog box) 7. Type F6/E6 8. Click in the Value_if_error argument type " " (an empty set of quotes)

If the test indicates there is an error, then Excel will display a blank cell.

9. Click OK Excel returns an answer—either the calculation of F6/E6 or a blank cell.

10. Copy the formula down


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Note: In Excel 2013, Microsoft introduced a function named IFNA( ) which is similar to IFERROR( ). IFNA( ) is just a bit more specific as it only tests for #N/A errors and is popular if you are using VLOOKUP formulas or the IFs function. As an example, I modified the example on the IFNA sheet so that we have a #DIV/0! Error at G7.

IFERROR would recognize and handle both the #N/A error as well as the #DIV/0! error (as shown in the screenshot below).

However, IFNA can only treat #N/A errors. Notice that row 7 still displays a #DIV/0! Error using IFNA.


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AND, OR, and NOT AND, OR, and NOT are considered logical functions and are usually found nested in other formulas such as an IF. The three functions return either a TRUE or a FALSE, which can be used in other calculations to continue a calculation or decision. The syntax for these three functions is: Function (logical1, logical2....)

• And tests whether all the arguments are TRUE • OR tests if any of the arguments are TRUE • Not tests whether the criterion is not true—for a single test

AND as well as OR allow you to test up to 30 conditions, while NOT only allows for one variable or one test. For example, use the following nested function of IF and AND, if you wanted to see if a customer qualified for a discount. To qualify, the Product (coffee beans) has to be from Tanzania (C8) and the Quantity Sold has to be >=50 (E8). If both cells met the criteria, then the resulting answer would calculate the new price after discount. Tip: Enter the TRUE/FALSE arguments first, as it is difficult to get back into the function dialog box to edit the original IF statement when adding an additional logic function into it.


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YOU TRY IT! This exercise will use AND to determine whether all conditions have been met. If all conditions have been met, then the company is entitled to a 10% discount (90% of the sales price).

1. Open AND_OR.xlsx and click on the sheet named Java Joe 2. Click in cell G8 and click on the button 3. Select Logical from the function category list 4. Select the IF function 5. Click OK 6. Click in the Value_if_true argument and type F8*90%

Make sure your cursor is in the correct spot in the dialog box. This tells Excel that if all the conditions are met, then the company is entitled to a 10% discount or 90% of the sales price.

7. Click in the Value_if_false argument and type F8 If the test is false (i.e., if all of the conditions are not met), then the company is not entitled to a discount and must pay the total sales price.

8. Click in the Logical_test argument 9. Click on the drop-down arrow beside the Name Box (do not click on the name box itself)

and select More Functions


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10. From the dialog box, select the Logical category Since you have not accessed AND before, when you click on the drop-down arrow of the Name Box, you will need to select More Functions. Once you use a function it will appear on the list when you next click the drop-down arrow.

11. Click on AND 12. Click OK

13. In the logical 1 argument type C8="Tanzania" This first condition tests to determine if the product is from Tanzania. The quotations are because Tanzania is text.

14. In the logical 2 argument type E8>=50 The second condition tests if the Quantity sold is greater than or equal to 50.

15. Click OK You only had 2 conditions to test so you have completed the AND along with the rest of the function as this was the last piece.

16. Copy the formula down

You should see that two customers have earned the discount as they both purchased Tanzania product and their purchase was 50 pounds or more.


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Review Exercise Open the AND_OR.xlsx Excel file and select the sheet named OR TRY IT. This exercise is similar to the previous one although not identical as you are going to use OR instead of AND. In addition, the product has changed from Tanzania to French Roast. With an AND, all the conditions must be TRUE for Excel to consider the test to have been met. With OR, as long as one of the conditions has been met, Excel considers the test to have been met.

Review Questions

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Review Questions The review questions accompanying this course are designed to assist you in achieving the course learning objectives. The review section is not graded; do not submit it in place of your qualified assessment. While completing the review questions, it may be helpful to study any unfamiliar terms in the glossary in addition to course content. After completing the review questions, proceed to the review question answers and rationales. 1. The Fx button allows an Excel user to:

a. Access a list of all functions b. Access only the logical functions c. Sum data d. Delete data

2. Which operator means not equal?

a. > b. < c. >= d. <>

3. If you are testing for 3 conditions, you would need _______ IF statements.

a. 1 b. 2 c. 3 d. 4

4. If you wanted Excel to display a blank or empty cell as part of an IF calculation, you

would type _______ in the function. a. "space" b. "blank" c. " " d. Empty

5. A/an _______ IF is the term used when you use an IF with a different type of function

such as an Information or Lookup function. a. Nested b. Embedded c. Conjoined d. Looped

Review Questions

6

6. AND/OR tests are logical functions that can test up to _______ conditions. a. 10 b. 20 c. 30 d. 40


7

SUMIF SUMIF is a great function that a lot of people are not familiar with. Basically, it combines two extremely popular functions—the SUM function and the IF Function. SUMIF tests specified cells and if those cells meet certain conditions or "criteria" then selected cells are summed (or added) up. Think of the possibilities. You can:

• Sum up receipts by different lockboxes. • Sum up the value of past-due invoices. • Add up negative numbers in a reserve or aging column quickly. • Add up the product returns or overtime for a particular day.

SUMIF Example The following is a simple example to illustrate SUMIF. This example tests to see if any of the house prices in cells A3:A6 exceed $150,000, so that the related realtor commissions can be summed. In looking at the example, you can see that there are two houses that meet the criteria (at row 5 and 6) and that the corresponding realtor commissions are in Column B. The housing prices are sorted for ease of viewing; however, they do not need to be sorted for a SUMIF. The house prices at row 5 and 6 met the specified criteria so the corresponding values in Column B, ($10,000 and $12,500) are added up to calculate total commissions on houses with prices over $150,000.

Essentially, the IF component checks to see if any houses are over $150,000 and the SUM component adds up the corresponding realtor commissions associated with those houses in Column A. The SUMIF function saves you from creating an IF function in one column and then summing the results of the formula. Two Notes of Caution When Using SUMIF Notice that the range started at A3 instead of A2. It is important to remember NOT to include your headings when you select your data as this may result in an incorrect answer. Incorrect calculations can occur when headings are included in the range.


8

If you use IFs frequently, you may have already noticed the quotation marks around the Criteria. SUMIF is not considered a logic function; instead, it is considered a Math and Trig function so the syntax is a bit different and quotation marks are needed if you type the criteria in. Excel is forgiving and will usually insert them if you forget. If the criterion used is a cell reference, such as B12, then you would not need to use the quotation marks; however, the contents of the cell would need to include the operator if you were using one. In the screenshot below, cell B12 contains >150000 and in the dialog box you can see that Excel is reading it as ">150000".


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YOU TRY IT! 1. Open SumIF.xlsx and select the sheet named Commission 2. Click in cell B12 3. Click on the button and select Math & Trig from the Select a category: section

4. Scroll down to the Select a function: list and select SumIF This function will test the condition and add up all those cells that meet the test.

5. Click OK 6. Click in the Range argument and type A3:A6

You are testing the housing prices in Column A. 7. Click in the Criteria argument and type ">150000"

This tests which houses have prices greater than 150,000. This is a bit different than a regular IF and requires the quotation marks and operator; however, if you forget the quotes, Excel will usually add them for you, particularly in later versions of Excel.

8. Click in the Sum_range argument and type B3:B6 This tells Excel what cells to add up if they meet the test and conditions already set forth (i.e., add up the commissions on the house price that is greater than 150000).

9. Click OK

Review Exercise In this exercise, determine the total sales for only Starbucks using the SUMIF function found in the Math & Trig category. Open the SUMIF.xlsx Excel file and select the sheet named Starbucks. Click in cell F1 and select the SUMIF function. The range will be the Customers (A7.A19) and the criteria or test is "Starbucks" while the Sum_range is Total Sales (F7.F19). The answer can be found on the sheet labeled Starbucks Answer.

Tip: If you can’t remember what category a function is in, select All and all the functions will display in alphabetical order.


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AVERAGEIF AVERAGEIF was introduced in Excel 2007. It is a statistical function that works the same way as SUMIF and COUNTIF. It tests specified cells and if those cells meet certain conditions or “criteria” then selected cells are averaged. The syntax is (AVERAGEIF(range, criteria, [average_range]) YOU TRY IT! In this exercise, we want to determine the average order amount of our Parcel Post shipments.

1. Open AVERAGEIF_COUNTIF.xlsx and click on the sheet Parcel Post Average 2. Click in cell E3 3. Click on the button and select Statistical from the Select a category: section

4. Select AverageIF 5. Click OK


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The range we are testing is the Ship Via in Column D. The criteria is "Parcel Post." The range we want to average, if the condition is met, is in Column B.

6. Click OK

You should see that the average shipment is $1,176.68.

COUNTIF COUNTIF is a statistical function that counts the number of cells within a range that meets the given criteria. It is quite similar to SUMIF and AVERAGEIF except that it does not have a Sum_Range element since Excel just counts the range related to the criteria. YOU TRY IT! In this exercise we will count how many sales are from Starbucks.

1. Open AVERAGEIF_COUNTIF.xlsx and select the sheet Count Starbucks 2. Click in cell F1 3. Click on the button and select Statistical from the Select a category: section


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4. Scroll down the Select a function: list and select COUNTIF This will test the condition and count all the cells that meet the test.

5. Click OK 6. Click in the Range argument and type A7.A19

This is testing the Customers in Column A. 7. Click in the Criteria argument and type "Starbucks"

The criteria are only customers that are Starbucks.

8. Click OK The resulting answer is 4. There are four entries with Starbucks in them.


13

YOU TRY IT! In this exercise, count the number of orders shipped where the order amount is under $100.

1. Open AVERAGEIF_COUNTIF.xlsx and select the sheet named Parcel Post 2. Click on cell E1 3. Click on the button 4. Select Statistical from the Select a category: field 5. Scroll down the Select a function: box and select COUNTIF 6. Click OK 7. The range is the Order Amount (B6.B180) and the Criteria is "<100"

Unlike a regular IF statement, you need the quotation marks around the <100 just as you did for SUMIF.

8. Click OK

83 is the answer. YOU TRY IT!

1. Count how many shipments went to Parcel Post. The answer is 35 and can be found on the last sheet in the file.

2. Determine the average shipment quantity of parcel post shipments. The answer is 2 and can be found on the last sheet in the file.

Tip: Functions such as IF, SUMIF, and COUNTIF as well as many others will accept range names which are quicker and easier to use if your worksheets contain a lot of rows. Tip: Wildcards can be used with SUMIF, COUNTIF, and AVERAGEIF, which makes them even more powerful. For example, =COUNTIF (A6:A180,"*P*") would look at the range in A6 through A180 and count all the customers whose names contained a P.


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The Plurals Over the years, Microsoft has added several new functions that go beyond the simple SUMIF, AVERAGEIF, and COUNTIF as they allow you to test up to 127 conditions. These functions are SUMIFS, COUNTIFS, and AVERAGEIFS. They were called the Plurals due to the letter “S” at the end of the function name. If you recall IFS() also allows you to test up to 127 conditions. In Excel 2019 and Microsoft 365, MAXIFS and MINIFS were added. MAXIFs allows you to return the largest numeric value meeting one or more criteria while MINIFS allows you to find the smallest numeric value. The functions all work the same way, so we will just walk through an example using SUMIFS. This example is similar to the SUMIF exercise we did earlier; however, the data is slightly different and this time we want to add up total sales only when three different criteria are met. YOU TRY IT! In this exercise we are going to determine the total sales for Smokin’Suzie if the Quantity Sold exceeds 50 pounds and if the product is from Tanzania. In other words, we are testing for 3 items: Smokin’ Suzie, Quantity greater than 50, and Tanzanian coffee.

1. Open PLURALS.xlsx and select the sheet Smokin Suzie 2. Click in cell G1

3. Click on the button and select the Math & Trig category 4. Scroll down to the Select a function: list and select SUMIFS

Note: Make sure you select SUMIFS and not SUMIF. SUMIFS will test the condition and sum up all those cells that meet the specified conditions.

5. Click OK 6. Click in the Sum_range argument and type F5:F17

This is the column you want to add up if all the conditions are met. 7. Click in the Criteria_range1 argument and type A5:A17

This tells Excel the range of cells where our criteria are going to be located. 8. If necessary, press the Tab key so that you see the argument


15

9. Click in Criteria 1 and type "Smokin’ Suzie" This tests which Customers in the list are Smokin’ Suzie Note: Make sure to type this correctly including the apostrophe.

10. Press the Tab key and in the Criteria_range2 type C5:C17 This identifies the range of cells containing the product Tanzania.

11. Press the Tab key, if necessary, and in the Criteria2 type "Tanzania" This tells Excel what criteria to search for and to retrieve from C5:C17.

12. Press the Tab key, if necessary, and in the Criteria_range3 type E5:E17 This identifies the range of cells containing the quantity.

13. Press the Tab key, if necessary, and type ">50" in Criteria3 This tells Excel to retrieve cells containing a quantity sold greater than 50. Don’t forget the quotation marks around the greater than 50.


16

14. Click OK

Even though 127 criteria can be used, you can only base your conditions on the first Criteria_range. In other words, all the conditions were based on the customer being Smokin’ Suzie. A single SUMIFS would not have worked if we had wanted to add up Smokin’ Suzie's sales for Tanzania product and Starbucks’ sales where the quantity that exceeded 50. Notice in the argument boxes that Sum_range, Criteria_range1, and Criteria1 are bolded, while the other criteria are not. If you are familiar with filtering data, picture Excel filtering all the data so that only data pertinent to Smokin’ Suzie displays in the worksheet. From there, additional filtering is applied.


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YOU TRY IT! – Other Plurals In this exercise, determine the average sales for Java Josephine if the Product is from Ethiopia and the quantity exceeds 25.

1. Open PLURALS.xlsx and click on the sheet named Java Josephine 2. Click in cell H1

3. Click on the button and select Statistical from the Select a category: section.

4. Scroll down to the Select a function: list and select AVERAGEIFS This function will average all the cells that meet the conditions.

5. Click OK 6. Click in the Average_range argument and type F6:F18

This is the column you want to average if all the conditions are met. 7. Click in the Criteria_range1 argument and type A6:F18

This tells Excel the range of cells where the criteria are located. 8. If necessary, press the Tab key, so you see the argument Criteria1.


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9. Click in Criteria 1 and type "Java Josephine" This identifies that we only want information on the customer Java Josephine.

10. Press the Tab key, if necessary, and in Criteria_range2 type C6:C18 This identifies the range of cells containing the product.

11. Press the Tab key, if necessary, and in Criteria2 type "Ethiopia" This tells Excel that we only want to retrieve information found in C6:C18 that contain data Ethiopia.

12. Press the Tab key, if necessary, and in Criteria_range3 type E6:E18 This identifies the range of cells containing the quantity sold.

13. Press the Tab key, if necessary, and type ">25" This tells Excel to retrieve cells containing a quantity greater than 25 from quantity sold. Don’t forget the quotation marks around the greater than 25.

14. Click OK The syntax should look like the following: '=AVERAGEIFS(F6:F18,A6:A18,"Java Josephine",C6:C18,"Ethiopia",E6:E18,">25") The answer is 573.75. Check the answer sheet to compare. If you are comfortable with that, try using MINIIFS()) and searching for the lowest Sales price if the customer is Java Josephine and the Product is from Ethiopia. .The syntax for this function is the same except that here we just tested for 2 conditions instead of 3. A screen shot is shown below in case you want to compare. I filtered the data to double-check that my answer of $79.9 was correct.


19

Review Exercise Open the PLURALS.xlsx Excel file and click on the sheet named Shipments. Try counting the shipments made via UPS where the salesperson’s name is King, the quantity shipped exceeds 2, and the color of the product is pink. You are testing for 4 things if you include the shipper is UPS. In addition, you are testing the number of shipments of pink items where the quantity is greater than 2 and which were sold by the salesman named King. The controlling criteria is the Ship Via.

The answer is on the following sheet entitled Shipments Answer in the file.


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SWITCH Switch is the newest function that Excel introduced in Excel 2019 and Microsoft 365. In my mind, it is a bit of a cross between an IF function and a VLOOKUP function. SWITCH compares one value against a list of values and then returns the first match it finds. The list of values can be referenced or typed in. In the screenshot below, I have 3 employees and their Employee Levels. Every Employee Level has a starting salary. For example, an Employee Level A starts out at $35,000.

In this example, I am telling Excel to look at the value in cell B2 and see if it is equal to an A. If it is, I want it to return a value of $35000 into cell C2. If it is not an A, I want Excel to look and see if it is a B. If it is a B then return the corresponding value of $40000. I hard coded these values in but you could have used absolute cell references as well. You can also set a default value to use if there is no match. If you are handy with text functions then incorporating SWITCH into them may be useful while doing an inventory list of parts and part numbers.

Review Questions

21

Review Questions The review questions accompanying this course are designed to assist you in achieving the course learning objectives. The review section is not graded; do not submit it in place of your qualified assessment. While completing the review questions, it may be helpful to study any unfamiliar terms in the glossary in addition to course content. After completing the review questions, proceed to the review question answers and rationales. 7. If you want to add up a group of numbers if a certain condition is met, use:

a. ADDIF b. SUMIF c. IFSUM d. COUNTIF

8. If you want to count a group of numbers if a certain condition is met, use:

a. COUNT b. SUMIF c. IFCOUNT d. COUNTIF

9. Excel 2007 introduced some new functions, called the Plurals, that test for up to _______

conditions. a. 30 b. 67 c. 100 d. 127

Review Question Answers and Rationales

22

Review Question Answers and Rationales Review question answer choices are accompanied by unique, logical reasoning (rationales) as to why an answer is correct or incorrect. Evaluative feedback to incorrect responses and reinforcement feedback to correct responses are both provided. 1. The Fx button allows an Excel user to:

a. Access a list of all functions. Correct. When a user clicks on the Fx button, a

dialog box pops up where all the functions are listed by category. b. Access only the logical functions. Incorrect. The Fx button shows all functions, not

just the logical functions. c. Sum data. Incorrect. The Fx button does not allow an Excel user to sum data although

it does allow a user to retrieve the sum function and add up data. d. Delete data. Incorrect. The Fx button does not delete data.

2. Which operator means not equal?

a. >. Incorrect. This symbol means greater than. b. <. Incorrect. This symbol means less than. c. >=. Incorrect. This symbol means greater than or equal to. d. <>. Correct. This symbol means not equal to. It can be very useful in situations

where an Excel user has a number of conditions that they want to test. 3. If you are testing for 3 conditions, you would need _______ IF statements.

a. 1. incorrect. A single IF statement would allow you to test for a single true and a

single false (2 conditions). b. 2. correct. Two nested IFs would allow you to test for 3 conditions. Nested IFs

test the first condition and if that condition is true, the function stops. If the first condition is not true, Excel goes on to the next test. If that 2nd condition is not true, then it assumes everything else falls into the 3rd condition.

c. 3. incorrect. You do not need 3 IFs to test for 3 conditions. You only need 2. You would only nest 3 IFs together if you wanted to test for more than 4 conditions.

d. 4. incorrect. 4 IF statements would require that you are testing for more than 3 conditions.

4. If you wanted Excel to display a blank or empty cell as part of an IF calculation, you

would type _______ in the function. a. "space". Incorrect. If you typed "space" then the word space would actually be typed. b. "blank". Incorrect. If you typed "blank" then the word blank would actually be typed. c. " " . Correct. There is an empty space between the quotations and that is what

will display in the cell. d. Empty. Incorrect. Typing empty without quotation marks will result in an error

message. Text needs to be within quotations when used with an IF.


23

5. A/an _______ IF is the term used when you use an IF with a different type of function such as an Information or Lookup function. a. Nested. Incorrect. Nested is generally used to show that an IF is combined with

another IF. b. Embedded. Correct. Embedded is used to describe combining an IF with a

nonlogical function such as a lookup or information function. c. Conjoined. Incorrect. There is no such IF term. d. Looped. Incorrect. There is no such IF term.

6. AND/OR tests are logical functions that can test up to _______ conditions.

a. 10. Incorrect. AND/OR can test more than 10 conditions. b. 20. Incorrect. AND/OR can test more than 20 conditions. c. 30. Correct. AND /OR can handle up to 30 conditions. d. 40. Incorrect. AND/OR cannot handle more than 30 conditions. 40 would be too

many.

7. If you want to add up a group of numbers if a certain condition is met, use: a. ADDIF. Incorrect. There is no such function in Excel. b. SUMIF. Correct. SUMIF is in the math and trig category and tests cells for a

specific condition and if that condition is met, it adds up the specified cells. c. IFSUM. Incorrect. The name of the function is SUMIF, not IFSUM. There is no such

function as IFSUM. d. COUNTIF. Incorrect. COUNTIF and SUMIF are similar, but COUNTIF does not

sum. 8. If you want to count a group of numbers if a certain condition is met, use:

a. COUNT. Incorrect. COUNT counts all the specified numbers, but it does not test to

see if specific conditions are met. b. SUMIF. Incorrect. SUMIF does not count cells. c. IFCOUNT. Incorrect. IFCOUNT is not a function that exists in Excel. d. COUNTIF. Correct. COUNTIF counts cells meeting the specified criteria


24

9. Excel 2007 introduced some new functions, called the Plurals, that test for up to _______ conditions. a. 30. Incorrect. The plurals such as SUMIFs and AVERAGEIFs can test for more than

30 conditions. AND/OR functions can only test for up to 30 conditions. b. 67. Incorrect. The Plurals can handle more than 67 conditions. c. 100. Incorrect. The Plurals can handle more than 100 conditions d. 127. Correct. AVERAGEIFS, COUNTIFS, and SUMIFs can test for up to 127

conditions. However, the tests are all based upon the first condition. In other words, it can test if Customer A had purchases greater than 100 and if the products were pink; however, it could not test to determine if Customer A had purchases greater than 100 and also test to determine if Customer B had purchases greater than 100 and if the product was pink.

Glossary

25

Glossary This is a glossary of key terms with definitions. Please review any terms with which you are not familiar. Embedded function: A function within a function. An embedded function is identical to nesting except that instead of nesting the same function, you are nesting a different function inside a function. Common embedded functions are logic, information, and lookup nested inside IF statements. Function: A customized or built in calculation that simplifies a calculation. For example, the function Average automatically adds and then divides by the number of items to arrive at an answer. Logic function: A function that takes a value (argument) or values, performs an operation, and returns a result to the cell. The function is made up of two expressions and a comparison operator, and has a True/False component. All functions begin with an equal sign and include the arguments in parenthesis after the function name. Nested function: Uses a function such as IF within the same statement (such as IF) to test for more than 2 conditions at once. Wildcard: A character or characters that act as a substitute. Symbol ? represents a single character, while asterisk * usually represents any number of characters within the same position. When testing for c*t, Excel queries test fields that begin with the letter c and end with the letter t. The words cot, cat, coat, and coast would return as queried.

Index

26

Index

A

AND .......................................................................... 1 AverageIfs ............................................................... 14

C

Complex IF ........................................................ 14, 19

E

Excel 2007 ............................................................... 19 Excel 2007 Functions .............................................. 14 Excel 2019 ............................................ i, 1, 11, 14, 20

I

IFERROR ............................................................... 19 IFNA ....................................................................... 21 IFs ........................................................... See NestedIF information function ................................................ 14 ISERROR .......................................................... 14, 21

L

Logical functions ....................................................... 2

M

Math and Trig function .............................................. 9 MAXIFS ........................................................... i, 1, 14

Microsoft 365 ................................................. i, 14, 20 MINIFS................................................................ 1, 14

N

Nested If .................................................................... 8 NOT ........................................................................... 1

O

OR ............................................................................. 1

S

Statistical function ................................................... 11 SUMIF ....................................................................... 7 Sumifs ...................................................................... 14 Switch Function ....................................................... 20

T

Text in an If ............................................................... 4

W

wildcards.................................................................. 13

Qualified Assessment

27

Qualified Assessment Using Excel Decision-Making Functions

Course # 2164522, Version 2007 Publication/Revision Date:

July 2020 Course Expiration Date Per AICPA and NASBA Standards (S9-06), QAS Self-Study courses must include an expiration date that is no longer than one year from the date of purchase or enrollment. Complete this assessment online at www.westerncpe.com and receive your certificate and results instantly! 1. _______ functions allow you to analyze data and make decisions based upon parameters

that the user specifies. a. Informational b. Decisional c. Logical d. Text

2. If you want to test to see if sales dollars are greater than budget dollars, which calculation

would you use? a. Sales > Budget b. Sales < Budget c. Sales <> Budget d. Sales >= Budget

3. There are six operators listed that can be used in a logical test. Which operator is one that

tends to be forgotten, but can be quite useful? a. > b. < c. > = d. < >

4. An Excel user can nest up to _______ levels in an IF.

a. 7 b. 14 c. 21 d. 64



28

5. In this equation, =IF(A5>B5,.05," "), what would display in the answer cell if Excel determined that A5 was not greater than B5? a. .05 b. " " c. A blank or empty cell d. FALSE

6. You are calculating your board of directors’ bonuses. The bonuses are based upon the

directors’ meeting several different goals. To test for several conditions or goals, it would be best to use one or more _______ functions. a. AVERAGEIF b. ISERROR c. COUNTIF d. IF

7. When creating a nested or embedded function, it is recommended that you first create the

IF statement and then insert the additional function(s) by clicking on the drop-down arrow in the _______ Box. a. Fx b. Name c. Cell d. Range

8. ISERROR is considered a/an _______ function.

a. Information b. Logic c. Statistical d. Plural

9. Information functions are typically used with the _______ function.

a. SUMIF b. ISERR c. IF d. AVERAGEIF


29

10. The function IFNA returns the value you specify if the formula returns the _______ error value; otherwise, it returns the result of the formula. a. ERROR b. #N/A c. IFNA d. #REF

11. When creating complex and nested IF statements, it can be difficult to return to the function wizard dialog box once you start the calculation so it is recommended that you a. Not do them b. Complete the true and false components first c. Do the tests first d. Complete the SUMIF component first

12. If you are testing 30 conditions and want Excel to display a result of TRUE as long as at

least one of the 30 conditions are met, you should use the _______ function. a. AND b. OR c. NOT d. SUMIFs

13. When creating a SUMIF function, it is recommended that:

a. You include column headings. b. You exclude column headings. c. You exclude row headings. d. You exclude range names.

14. If you were counting a range of words with the equation =COUNTIF(A1.A5,"c*t") which

of the following words would be EXCLUDED from the count? a. Cot b. Cut c. Christmas d. Coast


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15. If you were going to use the IF statement to test a cell for 2 different conditions how many IF statements would you need? For example, if your budget was $500 and you wanted to test cell A1 to determine if it was underbudget or overbudget—how many IF statements would you need to combine? a. 0 b. 1 c. 2 d. 3

Answer Sheet

31

Answer Sheet Using Excel Decision-Making Functions

Course # 2164522, Version 2007 3 CPE Credits

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Course Evaluation

32

Course Evaluation Using Excel Decision-Making Functions

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