What Is the Difference Between a Function and a Formula

question 12

Essay

What is the difference between a function and a formula? List two types of functions available in Excel. Describe how you would use the following functions: SUM, AVERAGE, COUNT, and MIN.

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Definitions:

Account Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Credit Terms

Terms for payment on account by the buyer to the seller.

Sales Discount

A reduction in the sale price offered by a seller to a buyer, usually to encourage prompt payment or to increase sales volume.

Invoice Date

Invoice Date refers to the date listed on an invoice, indicating when it was issued and often starting the timeline for payment due.