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The function can be used to evaluate text, values, and even errors. Multiple IF statements in Excel are known as nested IF statements.Īs a financial analyst, the IF function is used often to evaluate and analyze data by evaluating specific conditions. We can also use the IF function to evaluate a single function, or we can include several IF functions in one formula.
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For example, if sales total more than $5,000, then return a “Yes” for Bonus – Otherwise, return a “No” for Bonus. The Excel IF Statement tests a given condition and returns one value for a TRUE result and another value for a FALSE result.