What does the IF function do?

The IF function is designed to evaluate a specific condition and then return one value if that condition is true and a different value if it’s false. This logical structure allows users to perform decision-making processes within their spreadsheets. For example, you might use the IF function to assess whether a student's score meets a certain threshold, returning "Pass" if it does and "Fail" if it does not. This capability to discern between two different outcomes based on a condition is foundational in Excel for tasks ranging from basic data analysis to complex financial modeling.

The other choices describe different functionalities in Excel: automatic formatting pertains to conditional formatting rather than the IF function, repeating a previous result is not a feature of the IF function, and creating loops is related to iterative calculations or VBA programming rather than a singular IF statement. Understanding the specific role of the IF function enhances your ability to work with data logically and efficiently.