Final answer:
The IF function in Excel is located in the Logical drop-down menu under the Formulas Tab, not in any Text drop-down menu. Its purpose is to return one value if a specified condition is true and another value if it's false.
Step-by-step explanation:
The IF function in Excel is a very useful tool that allows you to make logical comparisons between a value and what you expect. In Excel, the IF function can be found in the Logical drop-down menu under the Formulas Tab. This means the correct answer to this question is c. The Logical drop-down menu under Formulas Tab.
To use the IF function in Excel, you click on the Formulas Tab, look for the Function Library group, and then click on the Logical button where you will find the IF function. The IF function is designed to return one value if a condition is true and another value if it's false. It's written as IF(logical_test, value_if_true, value_if_false).