We Can Use Excel's RAND Function Inside an IF Function

question 31

True/False

We can use Excel's RAND function inside an IF function to simulate whether some event occurs or does not occur.

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Definitions:

Time-Sales Finance

Financing arrangements that allow consumers to purchase goods or services over time, typically involving installment payments.

Installment Contract

A legal agreement requiring regular payments over time for the purchase of goods or services, typically used for expensive items.

Conditional Sales Contracts

Agreements where the sale is contingent upon certain conditions, often used in transactions involving goods or property.

Purchased Equipment

Machinery or tools acquired by a business for use in its operations, representing capital expenditure and an enhancement of operational capacities.