The IF Function

question 76

Multiple Choice

The IF function

• A) contains data for the basis of the lookup and data to be retrieved.
• B) looks up a value and returns a related result from the lookup table.
• C) evaluates a condition and returns one value if the condition is true and a different value if the condition is false.
• D) contains another function embedded inside one or more of its arguments.

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Definitions:

Personal Income Tax

A tax levied on an individual's income, including wages, salaries, and other earnings, by the government.

Benefits-Received Principle

A theory in tax policy stating that taxes should be levied in accordance with the level of government services and benefits an individual or entity receives.

Revenue

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Income Taxes

Taxes levied by the government on the income of individuals or organizations.