Case-Based Critical Thinking Questions Case 8-3 You Have Been Using

question 30

Multiple Choice

Case-Based Critical Thinking Questions Case 8-3 You have been using a variety of nested IF functions to calculate costs in your spreadsheet when a colleague stops by and comments on what you have been working on, suggesting that there is an easier approach to use. ​If you omit the range_lookup value from a LOOKUP function, which of the following is true?

• A)The function returns the #NAME? error value.
• B)Your function can only search the first column of the lookup table.
• C)It is considered an approximate match.
• D)It is considered an exact match.

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Definitions:

Corporate Income Tax

A tax imposed on the net income of corporations, calculated on the basis of the business's profit, contributing to government revenues.

Defense Spending

Expenditures by a government on military and defense-related activities to maintain national security.

Federal Budget Deficit

The financial situation where the government's expenditures exceed its revenues, resulting in the need to borrow money to cover the shortfall.

Direct Benefit Payments

Direct payments from governments to individuals for programs like Social Security, welfare, or subsidies.