True Excel Function

Definition

The term “True Excel Function” doesn’t pertain to a specific function in finance or Excel. However, ‘TRUE’ is a logical function in Excel that returns the logical value TRUE. It can be used to verify conditions and return a boolean True or False as a result.

Key Takeaways

1. The TRUE function in Excel is a built-in function that is used as a Logical Function. It’s purpose is to return the logical value of TRUE.
2. This function does not require any arguments. Syntax: =TRUE(). When implemented, it simply returns the boolean value TRUE.
3. It can be used in various ways, mostly in conjunction with other logical functions or conditions like IF, AND, OR – for comparing values and drawing useful insights from data.

Importance

The term “True” in Excel isn’t exactly a standalone function, but rather, it is a logical value used in various Excel functions and formulas. It is important in finance (and other fields) because of its utility in managing, analyzing, and decision making using financial data.

Its importance lies in its ability to perform conditional logic within financial models. For instance, you can use the “True” value in functions like IF, AND, and OR to conditionally calculate values, make decisions or validate conditions in an Excel worksheet.

This can be extremely vital for financial professionals when they deal with massive amounts of data and need to apply conditions to manage datasets, calculate profits, compare budgets, etc. This helps to enhance data accuracy, improve efficiency, and deliver better financial outcomes.

Explanation

The TRUE Excel function is a logical function primarily used in conditional formatting, decision making, and creating more complex formulas in Microsoft Excel. It does not actually perform any calculations, instead, it simply returns the logical value TRUE. This function is particularly useful within other functions giving a condition where a specific situation is true, as per your assignment’s rules or specifications.

For example, you might use it to compare values or to return specific results if certain criteria are met. Another use case for the TRUE function might be when you need to set up certain conditions where you want to check if a certain condition is true or not. The TRUE Excel function can be combined with other logical functions like IF, AND, OR, NOT, etc.

to complete complex tasks. For instance, when used with the IF function, it forms IF-THEN-ELSE logic where you can test a certain condition, and then perform one action if the condition is TRUE, and another action if the condition amounts to FALSE. Similarly, in combination with AND or OR functions, it can check multiple criteria at once, extending the conditionality and decision-making capabilities of excel functions.

Thus, the TRUE function forms the backbone of logic-building and decision-making tasks in Excel.

Examples of True Excel Function

The TRUE function in Excel is a built-in logical function that returns the logical value TRUE. Here are few real world examples of how it can be used:

Sales Target Achievement: A business frequently keeps tabs on whether its sales targets are being met. A TRUE function can be used in Excel spread sheets to show whether a sales figure reached the target or not. In Excel, =IF(A2>B2, True, False) can determine if the sales (cell A2) is greater than the target (cell B2).

Inventory Management: If a product’s inventory level gets too low, a company needs to reorder. The Excel function “=IF(A2

FAQs about the TRUE Function in Excel

What is the TRUE function in Excel?

The TRUE function in Excel is a built-in function that returns the logical value TRUE. It’s used directly in logical expressions and conditional formatting formulas.

How do I use the TRUE function in Excel?

To use the TRUE function in Excel, simply type “=TRUE()” in a cell. It does not require any arguments. The function will then return the logical value TRUE.

Can I use the TRUE function with other functions?

Yes, the TRUE function can be used with other functions. It’s most commonly used in combination with logical functions like AND and OR, as well as conditional functions like IF.

What is the difference between TRUE and 1 in Excel?

In Excel, TRUE and 1 are essentially the same. Excel treats the TRUE value as 1 for mathematical calculations.

Can I use the TRUE function in array formulas?

Yes, you can use the TRUE function in array formulas. However, keep in mind that the function will return TRUE for every element in the array.

Related Entrepreneurship Terms

• Net Present Value (NPV)
• Internal Rate of Return (IRR)
• Financial Modeling
• Data Validation
• Pivot Tables

Sources for More Information

• Microsoft Official Homepage: Being the creators of Excel, you can find detailed information about any Excel function including TRUE Function from its Office Support section.
• Excel Functions: It provides comprehensive information on many Excel functions including TRUE function.
• Dummies: Its technology section provides easy-to-understand information about Excel functions.
• ExcelJet: This site provides a wide range of Excel functions and shortcuts, with clear explanations and examples.