28 terms

A set of rules that governs the structure and components for properly entering a function

Syntax

Displays the current date

TODAY

indicates a cell's specific location, the cell reference does not change when you copy the formula

Absolute cell reference

An input, such as a cell reference or value, needed to complete a function

Argument

Identifies the highest value in a range

MAX Function

Tallies the number of cells in a range that contains values

COUNT Function

Looks up a value in a vertical lookup table and returns a related result from the lookup table

VLOOKUP

A range that contains data for the basis of the lookup and data to be retrieved

Lookup Table

Calculates the arithmetic mean, or average of values in a range

AVERAGE

Indentifies the midpoint value in a set of values

MEDIAN Function

Displays current date and time

TODAY Function

Evaluates a condition and returns one value if the condition is true and a different value if the condition if false

IF Function

Calculates the total of values contained in two or more cells

SUM Function

Calculates the periodic payment for a loan with a fixed interest rate and fixed term

PMT Function

Indicates cells location from the cell containing the formula; the cell reference changes when the formula is copied

Relative Cell Reference

Contains both an absolute and relative cell reference in a formula; the absolute part does not change but the relative part does when you copy your formula

Mixed Cell Reference

An expression that evaluates true or false

Logical Test

Displays lowest value in a range

MIN Function

If Cell E15 contains the formula =$c$5*J$15, what type of reference is the J$15 in the formula?

Mixed Reference

What function would most efficiently accomplish the same thing as =(B5+C5+D5+E5+F5)/5?

=AVERAGE(B5:F5)

When you start to type =AV, what feature displays a list of functions and defined names?

Formula AutoComplete

A formula containing the entry =$B3 is copied to a cell one column to the right and two rows down. How will the entry appear in its new location?

=$B5

Which of the following functions should be used to insert the current date and time in a cell?

=NOW()

Which of the following is not an argument of the IF function?

A) value_if_true

B) value_if_false

C) logical_test

D) lookup_value

Answer is D)

B) value_if_false

C) logical_test

D) lookup_value

Answer is D)

Which of the following is not true about the VLOOKUP function?

A)The lookup table must be in ascending order

B)the lookup table must be in descending order

C)The default match type is approximate

D)The match type must be false when completing

Answer is B)

B)the lookup table must be in descending order

C)The default match type is approximate

D)The match type must be false when completing

Answer is B)

The function =PMT(C5,C7,-C3) is stored in cell C15. What must be stored in cell C5?

Periodic Interest Rate

Which of the following is not an appropriate use of the SUM function?

A) =SUM(B3:B45)

B) =SUM(F1:G10)

C)=SUM(A8:A15,D8:15)

D)=SUM(D15-C15)

Answer is D)

B) =SUM(F1:G10)

C)=SUM(A8:A15,D8:15)

D)=SUM(D15-C15)

Answer is D)

What is the keyboard shortcut to create an absolute reference?

F4