Final answer:
The statement in the question is A) True. The LOOKUP function in Excel can often be used instead of the VLOOKUP or HLOOKUP functions with a TRUE lookup type.
Step-by-step explanation:
The statement in the question is True. The LOOKUP function in Excel can often be used instead of the VLOOKUP or HLOOKUP functions with a TRUE lookup type.
The LOOKUP function is a versatile function that can perform both vertical and horizontal lookups. By default, it performs an approximate match, similar to a VLOOKUP with a TRUE lookup type. However, it can also perform an exact match, similar to a VLOOKUP with a FALSE lookup type, by specifying the last argument as FALSE.
For example, the formula =LOOKUP(42,A1:A10,B1:B10) will find the last value in column A that is less than or equal to 42, and return the corresponding value from column B.