If any one of the tests is TRUE, then OR will return TRUE. The OR function takes up to 255 logical tests. If you see the power of AND, then you will appreciate the OR and NOT functions. Use the AND() function as the logical test inside the IF statement. If any argument is false, then AND will return FALSE. The AND function will return TRUE if all of its arguments are TRUE. The AND function will hold up to 255 logical tests.
The above approach becomes unwieldy, as the formula is =IF(Test1,IF(Test2,IF(Test3,IF(Test4,IF(Test5, Formula If True,0),0),0),0),0).
Imagine if you had to test for five conditions. This will provide the third argument and closing parentheses for the first IF statement. Gotcha: Don’t forget to type the ,0) at the end of the formula. Using a second IF statement as the second argument. In this case, the second argument is another IF statement that checks to see if the GP% is over 50%. The second argument holds a formula to use when the logical test is true. This first checks if the revenue is over $20,000. The most common solution is nesting one IF statement inside of another. Strategy: There are three common solutions to this problem: nesting IF statements, using AND, using boolean formulas. The GP% must be 50% or higher in addition to the sale being over $20,000. Now the formula will determine the PPV group for each article.Problem: The CFO decided we should only pay the 2% bonus if a second condition is met.