CFI-Excel-eBook

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The Corporate Finance Institute ExcelExample 1 – Using IFS with ELSELet’s assume we have a list of items and we need to classify them under threecommon headings: Vegetable, Fruit, Green Vegetable and Beverage. When weuse the IFS function and give the formula=IFS(A2=”Apple”,”Fruit”,A2=”Banana”,”Fruit”,A2=”Spinach”,”GreenVegetable”,A2=”coffee”,”Beverage”,A2=”cabbage”,”GreenVegetable”,A2=”capsicum”,”Vegetable”)Then, we will get the following result:In this example, we have entered multiple logical tests in the IFS function.When a logical test evaluates to TRUE, the corresponding value will bereturned. However, if none of the logical tests evaluate to TRUE, then IFSfunction would give #N/A error. This is what we got for Pepper in B8.corporatefinanceinstitute.com114
The Corporate Finance Institute ExcelUsing ELSE function, we can ensure that this #N/A error is removed. For this wewould place a final logical test at the end of the formula that is TRUE and thenplace a value that shall be returned.Here, we added TRUE, “Misc”, this will ensure that Excel returns the value“Misc” in the scenario where none of the previous logical tests in the IFSfunction evaluates to TRUE.Now the results would as be as shown below:corporatefinanceinstitute.com115
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