Excel Chapter 4 Vocab

Error Checking command

A command that checks for common errors that occur in formulas.

Trace Dependents command

A command that displays arrows that indicate what cells are affected by the value of the currently selected cell.

Trace Precedents command

A command that displays arrows to indicate what cells affect the value of the cell that is selected.

One-variable data table

A data table that changes the value in only one cell.

Two-variable data table

A data table that changes the values in two cells.

Table array

A defined range of cells, arranged in a column or a row, used in a VLOOKUP or HLOOKUP function.

Lookup functions

A group of Excel functions that look up a value in a defined range of cells located in another part of the workbook to find a corresponding value.

Validation list

A list of values that are acceptable for a group of cells; only values in the list are valid and any value not in the list is considered invalid.

Data table

A range of cells that shows how changing certain values in your formulas affect the results of those formulas and that makes it easy to calculate multiple versions in one operation.

Data validation

A technique by which you can control the type of data or the values that are entered into a cell by limiting the acceptable values to a defined list.

Trace Error command

A tool that helps locate and resolve an error by tracing the selected error value.

Watch Window

A window that displays the results of specified cells.

Name

A word or string of characters in Excel that represents a cell, a range of cells, a formula, or a constant value; also referred to as a defined name.

Defined name

A word or string of characters in Excel that represents a cell, a range of cells, a formula, or a constant value; also referred to as simply a name.

Circular reference

An Excel error that occurs when a formula directly or indirectly refers to itself.

PMT function

An Excel function that calculates the payment for a loan based on constant payments and a constant interest rate.

LOOKUP

An Excel function that looks up values in either a one-row or one-column range.

HLOOKUP

An Excel function that looks up values that are displayed horizontally in a row.

VLOOOKUP

An Excel function that looks up values that are displayed vertically in a column.

Formula

An equation that performs mathematical calculations on values in a worksheet.

Tracer arrow

An indicator that shows the relationship between the active cell and its related cell.

Type argument

An optional argument in the PMT function that assumes that the payment will be made at the end of each time period.

Precedent cells

Cells that are referred to by a formula in another cell.

Dependent cells

Cells that contain formulas that refer to other cells.

Rate

In the Excel PMT function, the term used to indicate the interest rate for a loan.

Goal Seek

One of Excel's What-If Analysis tools that provides a method to find a specific value for a cell by adjusting the value of one other cell—find the right input when you know the result you want.

Financial function

Pre-built formulas that perform common business calculations such as calculating a loan payment on a vehicle or calculating how much to save each month to buy something; financial functions commonly involve a period of time such as months or years.

Nper

The abbreviation for number of time periods in various Excel functions.

Interest

The amount charged for the use of borrowed money.

Scope

The location within which a defined name is recognized without qualification—usually either to a specific worksheet or to the entire workbook.

What-If Analysis

The process of changing the values in cells to see how those changes affect the outcome of formulas in a worksheet.

Auditing

The process of examining a worksheet for errors in formulas.

Error value

The result of a formula that Excel cannot evaluate correctly.

Principal

The total amount that a series of future payments is worth now; also known as the Present value (Pv).

Present value (Pv)

The total amount that a series of future payments is worth now; also known as the principal.

Future value (Fv)

The value at the end of the time periods in an Excel function; the cash balance you want to attain after the last payment is made—usually zero for loans.

Arguments

The values that an Excel function uses to perform calculations or operations.

Formula Auditing

Tools and commands accessible from the Formulas tab that help you check your worksheet for errors.

Iterative calculation

When Excel recalculates a formula over and over because of a circular reference.