Microsoft Office Tutorials and References
In Depth Information
=#REF!$A$1:$E$12
As far as I can tell, keeping erroneous names in a workbook doesn't cause any harm, but it's still good practice
to delete or correct all names that contain an erroneous reference.
Figure 3-16: Deleting the sheet that contains the range named MyRange causes an erroneous reference.
The Secret to Understanding Names
Excel users often refer to named ranges and named cells. In fact, I use these terms frequently throughout this
chapter. Technically, this terminology is not quite accurate.
Here's the secret to understanding names: When you create a name, you're actually creating a named formula.
Unlike a normal formula, a named formula doesn't exist in a cell. Rather, it exists in Excel's memory.
This is not exactly an earth-shaking revelation, but keeping this “secret” in mind will help you understand the
advanced naming techniques that follow.
When you work with the Name Manager dialog box, the Refers To field contains the formula, and the Name
field contains the formula's name. The content of the Refers To field always begins with an equal sign, which
makes it a formula.
As you can see in Figure 3-17, the workbook contains a name ( InterestRate ) for cell B1 on Sheet1. The Refers
To field lists the following formula:
=Sheet1!$B$1
Whenever you use the name InterestRate, Excel actually evaluates the formula with that name and returns the
result. For example, you might type this formula into a cell:
=InterestRate*1.05
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