Wall Street Prep; Excel Crash Course Formulas Explained Exam With Accurate Solutions!

Explanation: Start by inputting the start_date into the first argument. Then input how many months ahead or behind you would like to go from that start_date. EDATE Function - ANSWER-Definition: Similar to EOMONTH but this return the exact date from the start-date, after the specified number of months. Explanation: Start by inputting the start_date into the first argument. Then input how many months ahead or behind you would like to go from that start_date. ISNUMBER Function - ANSWER-Definition: A function that is useful criteria in IF Statements/Functions, and it is basically test to see if a cell has a number in it. Explanation: Simply input value to check to see if value inputted comes out to true or false. ISTEXT Function - ANSWER-Definition: A function that evaluates if there is text inside a cell and will output TRUE or FALSE depending on the result. Also a useful criteria to add to IF statements/functions. Explanation: Simply input value to check to see if value inputted comes out to true or false. YEARFRAC Function - ANSWER-Definition: A function that return the proportion of the year between two given dates, the start_date and the end_date. An optional basis parameter can be used do represent the number of days per month/year used to calculate the proportion of the year. Optional Basis Parameters: 1. 0 - or Omitted = U.S. 30/360 2. 1 - Actual/Actual 3. 2 - Actual/360 4. 3 - Actual/365 5. 4 - European 30/360 Explanation: Simply input the start_date and the end_date with the desired basis argument and the function will output the proportion of the year between the two given dates. DATE Function - ANSWER-Definition: A function that combines distinct year, month, and day elements into a function that will output the date. Explanation: Input the year, month, and day to get the date. DAY Function - ANSWER-Definition: returns the day portion of a date (a number between 1 and 31) MONTH Funtion - ANSWER-Definition: Outputs the month based on inputted serial number YEAR Function - ANSWER-Definition: Outputs the year based on inputted serial number. AND Function - ANSWER-Definition: A function that facilitates the type of analysis where you need to evaluate multiple arguments at once. This function evaluates to true if all arguments (logical_tests) and evaluates to false if one or more arguments are false. Typically embedded in IF statements/functions. Explanation: input the arguments you would like evaluated to get a TRUE output from the function or a FALSE output from the function. OR Function - ANSWER-Definition: Similar to the AND Function which evaluates to true if at least one argument (logical_test) is TRUE. Explanation: input the arguments you would like evaluated to get a TRUE output from the function or a FALSE output from the function. HLOOKUP Function - ANSWER-Definition: A lookup & reference function that searches for a value in top ROW of a table or an array of values, and then returns a value in the same column from a row you specify. Explanation: Begin by providing a lookup_value in the first argument of the function, then provide the table_array for function, and lastly use the XMATCH function to make the row_index_num dynamic, and lastly lookup/reference function a range lookup argument may be required to be inputted as a FALSE for lookup values that are text or numbers in a non-ascending order.