What is the function of the IF statement in Excel?

The function of the IF statement in Excel is to perform a logical test and return different values depending on whether the test evaluates to true or false. This allows users to create conditional formulas that can adjust based on the results of their checks. For instance, if you have a dataset of scores, you could use an IF statement to determine if a score is a passing grade and return "Pass" or "Fail" accordingly. This capability makes it a powerful tool for decision-making processes in spreadsheets, enhancing data analysis and reporting.

In contrast, the options related to formatting cells, counting conditions, or calculating sums describe other Excel functions that serve different purposes. The first option pertains to conditional formatting, which visually changes a cell's appearance. The third option refers to functions like COUNTIF that count cells based on criteria, while the fourth option connects to functions like SUM which aggregate data. Each of these serves specific roles that do not encompass the conditional logical testing aspect that the IF function provides.