After you link a Word document to an Excel worksheet, the Word content becomes part of the workbook and you can no longer update it.

Name: After you link a Word document to an Excel worksheet, the Word content becomes part of the workbook and you can no longer update it.
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After linking a Word document to an Excel worksheet, you can still update the Word content by selecting "Update Link" from the "Data" tab in Excel.

After You Link a Word Document to an Excel Worksheet