What is Excel IF Function?
The Excel IF function runs a logical test and returns one value for a TRUE result, and another for a FALSE result. For example, to "pass" scores above 50: =IF(A1>50,"Pass","Fail"). More than one condition can be tested by nesting IF functions. The IF function can be combined with logical functions like AND and OR to extend the logical test.
What is Excel ISBLANK Function?
ISBLANK is an Excel Information function that returns true if the argument cell contains no information. ISBLANK examines a specified cell and reports whether or not it is blank. If it is empty, it returns TRUE; otherwise, it returns FALSE. MS Excel 2007 introduced the function.
We deal with data all the time in financial analysis. The ISBLANK function is useful for determining whether or not a cell is blank. For example, if A5 contains a formula that produces the empty string "," the function will return FALSE. As a result, it aids in the removal of both regular and non-breaking space characters.
However, if a cell contains both good data and non-breaking spaces, the non-breaking spaces can be removed from the data.
Formula
=ISBLANK(value)
Where
Value (required argument) is the value that we wish to test. (This function takes in a cell)
What is the MAX Function?
The MAX Function falls under the category of Excel Statistical functions. MAX returns the largest value from a given set of arguments. It will return the highest value from a given set of numeric values. In contrast to the MAXA function, the MAX function counts numbers but ignores empty cells, text, the logical values TRUE and FALSE, and text values.
In financial analysis, MAX can be useful in calculating the highest score, the fastest time, the highest expense or revenue amount, etc.
Formula
=MAX(number1, [number2], …)
Number1 and number2 are the arguments used for the function, where Number1 is required and the subsequent values are optional.
In MS Excel 2007 and later versions, we can provide up to 255 number arguments to the MAX function. However, in Excel 2003 and earlier versions, it can only accept up to 30 number arguments.
Arguments can be provided in the form of constants, cell references, or ranges. If an argument is passed to the function as a reference to a cell or an array of cells, the MAX function will ignore blank cells as well as text or logical values within the supplied cell range. However, logical values and text representations of numbers supplied directly to the function will be calculated.
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