Question 1

When a formula includes a cell reference, Excel interprets that cell reference as being located relative to the position of the current cell.

Accepted Answer

This is known as relative cell referencing, which means that when a formula is copied to another cell, the cell references adjust relative to the new location.

Question 2

Optional arguments are always placed first in the argument list.

Accepted Answer

Optional arguments are always placed after required arguments in the argument list.

Question 3

The WORKDAY function displays the date of the weekday a specific number of weekdays past a starting date.

Accepted Answer

The WORKDAY function in most spreadsheet applications (including Microsoft Excel and Google Sheets) does exactly what is described - it returns the date of the weekday a specified number of workdays (i.e. weekdays, excluding weekends) after a starting date.

Question 4

The Fill Formatting Only option, which is the default, copies both the content and the formatting.

Accepted Answer

The answer of The Fill Formatting Only option, which is...

Question 5

The following mixed reference in the formula, $A5, has an absolute column reference and a relative row reference.

Accepted Answer

A5 contains "$A" which indicates an absolute column reference and "5" which indicates a relative row reference.

Question 6

The IF function is a logical function that returns one value if a condition is true, and returns a different value if that condition is false.

Accepted Answer

This statement is correct, the IF function in Excel operates based on a logical test and returns different results based on whether the test is true or false.

Question 7

A mixed reference "locks" one part of the cell reference while the other part can change.

Accepted Answer

A mixed reference can be created by using the dollar sign before either the row or column reference in a cell reference, while leaving the other part without a dollar sign. This locks one part of the reference while allowing the other part to change when the formula is copied or dragged to other cells.

Question 8

An error value begins with a pound sign (#) followed by an error name that indicates the type of error.

Accepted Answer

This statement is true. Error values in Excel begin with a pound sign followed by an error name.

Question 9

The statement "A1 >= B1" tests whether the value in cell A1 is lesser than or equal to the value in cell B1.

Accepted Answer

The statement "A1 >= B1" tests whether the value in cell A1 is greater than or equal to the value in cell B1.

Question 10

A trial-and-error method lets you explore the impact that changing input values has on the  calculated values in the workbook.

Accepted Answer

The answer of A trial-and-error method lets you explore the...

Question 11

Functions are organized in the Function Library group on the FORMULAS tab.

Accepted Answer

The answer of Functions are organized in the Function Library...

Question 12

A lookup table organizes numbers or text into categories.

Accepted Answer

This statement is true. A lookup table is a data structure that maps input values to corresponding output values based on a pre-defined set of rules or categories. It is commonly used in computer programming and database management to streamline data processing and analysis.

Question 13

By default, AutoFill copies only the content not the formatting of the original range to the selected range.

Accepted Answer

The answer of By default, AutoFill copies only the content...

Question 14

Lookup tables can be constructed for exact match or approximate match lookups.

Accepted Answer

Lookup tables can be created for both exact match and approximate match lookups. Exact match lookups return a result only if the input matches a value in the table exactly, while approximate match lookups return the nearest match in the table if an exact match is not found.

Question 15

An error value indicates that some part of a function is preventing Excel from returning a calculated value.

Accepted Answer

The answer of An error value indicates that some part...

Question 16

An argument can be any type of value including text, numbers, cell references, or even other formulas or functions.

Accepted Answer

An argument can be any type of value including text, numbers, cell references, or even other formulas or functions.

Question 17

A constant is a value in a formula that doesn't change.

Accepted Answer

A constant is a fixed value in a formula that remains unchanged.

Question 18

Goal Seek automates the trial-and-error process by allowing you to specify a value for  a calculated item, which Excel uses to determine the input value needed to reach that  goal.

Accepted Answer

Goal Seek allows you to specify a goal or target value for a cell that is calculated based on other cells. Excel then back-solves to determine what input value would be required to achieve the specified goal.

Question 19

To display the current date and time, which is updated each time the workbook is reopened,  use the TODAY function.

Accepted Answer

The TODAY function returns the current date, but it does not update automatically each time the workbook is reopened. Thus, we need to use a macro or a formula with VBA code to update the date and time automatically each time the workbook is opened.

Question 20

One challenge of nesting functions is to make sure that you include all of the parentheses.

Accepted Answer

This is true because if you miss a parenthesis, it can cause errors in your code and make it difficult to debug. It's important to keep track of the parentheses and make sure you have them all in the right place when nesting functions.

Quiz 8: Excel Module Performing Calculations With Formulas and Functions

When a formula includes a cell reference, Excel interprets that cell reference as being located relative to the position of the current cell.

Optional arguments are always placed first in the argument list.

The WORKDAY function displays the date of the weekday a specific number of weekdays past a starting date.

The Fill Formatting Only option, which is the default, copies both the content and the formatting.

The following mixed reference in the formula, $A5, has an absolute column reference and a relative row reference.

The IF function is a logical function that returns one value if a condition is true, and returns a different value if that condition is false.

A mixed reference "locks" one part of the cell reference while the other part can change.

An error value begins with a pound sign (#) followed by an error name that indicates the type of error.

The statement "A1 >= B1" tests whether the value in cell A1 is lesser than or equal to the value in cell B1.

A trial-and-error method lets you explore the impact that changing input values has on the calculated values in the workbook.

Functions are organized in the Function Library group on the FORMULAS tab.

A lookup table organizes numbers or text into categories.

By default, AutoFill copies only the content not the formatting of the original range to the selected range.

Lookup tables can be constructed for exact match or approximate match lookups.

An error value indicates that some part of a function is preventing Excel from returning a calculated value.

An argument can be any type of value including text, numbers, cell references, or even other formulas or functions.

A constant is a value in a formula that doesn't change.

Goal Seek automates the trial-and-error process by allowing you to specify a value for a calculated item, which Excel uses to determine the input value needed to reach that goal.

To display the current date and time, which is updated each time the workbook is reopened, use the TODAY function.

One challenge of nesting functions is to make sure that you include all of the parentheses.