Describe the "IF" Function in Excel

question 86

Essay

Describe the "IF" function in Excel.

---

Definitions:

Asset

An economic resource owned or controlled by an individual or business, expected to provide future economic benefits.

Depreciation Expense

An accounting method of allocating the cost of a tangible or physical asset over its useful life.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value.

Fiscal Period

A fiscal period is the time frame used by governments and businesses for accounting purposes and preparing financial statements, typically a year, quarter, or month.