Based on the Values in Cells B77:B81, What Function Can Automatically Return the Value in Cell C77?

1. =Floor()
2. =Smallest
3. =Min()
4. =Bottom
5. =Lowest

Answer: =Min()

To find the value in Cell C77 based on the values in the range B77:B81, you should use the Excel function “=MIN()”. Here’s how it works:

• =MIN() Function: The “=MIN()” function in Excel is designed to find the minimum (lowest) value within a specified range of numbers.
• Range B77:B81: This range consists of the values in cells B77, B78, B79, B80, and B81. These cells contain numerical data, such as financial figures or any set of numbers you want to analyze.
• Result in Cell C77: When you enter the formula “=MIN(B77:B81)” into cell C77, Excel will automatically scan the range B77:B81 and identify the smallest value among those cells.
• Returned Value: Excel will return the smallest value from the range B77:B81, which will appear in Cell C77.

Example:Let’s say you have the following expenses for the first five months of the year in cells B77 to B81:

• B77: $1,000
• B78: $800
• B79: $1,200
• B80: $950
• B81: $1,150

If you enter the formula “=MIN(B77:B81)” in cell C77, Excel will recognize that $800 is the lowest expense amount among these values, and it will display “$800” in cell C77.

Importance in Accounting: In accounting and finance, this function is invaluable for identifying the smallest value in a dataset. This can be crucial for various financial analyses, budgeting, cost-cutting decisions, or pinpointing the least expensive item or period.By using the “=MIN()” function in Excel, accountants, and financial analysts can efficiently determine the lowest value within a range, helping them make informed financial decisions and conduct thorough financial evaluations.In conclusion, when you need to find the lowest value among a set of numbers, such as expenses, revenues, or any financial data, using the “=MIN()” function in Excel is a powerful tool for accountants and financial professionals.