Question Discussion & Solution

The term workspace refers to all the open workbooks and their exact screen position and window sizes.
A workspace contains pointers to your other Excel files that you had open during your session.
When you open an Excel workspace all the other files are opened as well
Workspaces are particularly useful if you frequently work with the same set of files and need to have them all open at once.

An array formula is a formula that can perform multiple calculations on one or more of the items in an array. We can think of an array as a row of values, a column of values, or a combination of rows and columns of values. Array formulas can return either multiple results or a single result. For example, we can create an array formula in a range of cells and use the array formula to calculate a column or row of subtotals. We can also place an array formula in a single cell and calculate a single amount. An array formula that includes multiple cells is called a multi-cell formula, and an array formula in a single cell is called a single-cell formula.

Formula palette is used to create and edit formula.
It is also possible to type a function directly into a cell, however, as there are over 300 functions built into Microsoft Excel, some of which are quite complex, Excel provides the Formula Palette to simplify the process.

Use a Custom list to sort or fill in a user-defined order. Excel provides day-of-the-week and month-of-the year built-in lists, but we can also create your own custom list.

For Excel 2010 and later, click File > Options > Advanced > General > Edit Custom Lists.
For Excel 2007, click the Microsoft Office Button Office button > Excel Options > Popular >Top options for working with Excel > Edit Custom Lists.