Introduction to FP&A: Excel Functions and Formulas Investigation

What is the difference between a formula and a function in Excel?

• A formula is a predefined calculation, while a function is a user-created equation.

• A function is a predefined calculation, while a formula is a user-created equation.

• Both are the same and used interchangeably.

• A function can only be used for financial analysis.

Which symbol must be used at the beginning of every Excel formula?

• +

• -

• =

• /

What does the SUM() function do in Excel?

• Multiplies a range of numbers

• Adds a range of numbers

• Finds the highest value in a range

• Sorts numbers in ascending order

Which Excel function is best for calculating the average value of a given data range?

• COUNT()

• AVERAGE()

• MAX()

• MIN()

How do you reference a cell in Excel when writing a formula?

• By typing the word "Cell" followed by the number

• By using the letter and number of the cell (e.g., A1, B2)

• By using only the number (e.g., 1, 2, 3)

• By selecting the formula bar and pressing Enter

Which formula correctly calculates the percentage change between two values in Excel?

• (A1-A2)/A1

• ((A1-A2)/A2) * 100

• (A2-A1)/A1

• (A1*A2)/100

What is the purpose of the MIN() and MAX() functions in Excel?

• They find the lowest and highest values in a selected range.

• They add all values together.

• They calculate the percentage change.

• They sort data in ascending order.

Which function would you use to count the number of numeric values in a range?

• SUM()

• COUNT()

• MAX()

• MIN()

How can functions like SUM(), AVERAGE(), MIN(), and MAX() help in financial analysis?

• They allow analysts to manipulate text in Excel.

• They help in performing quick calculations and analyzing financial data.

• They are used only for creating pie charts.

• They are mainly used for creating Excel macros.

Which Excel feature allows users to quickly apply formulas to multiple cells?

• AutoFill

• Conditional Formatting

• Data Validation

• Text to Columns