Final answer:
The programming of a spreadsheet to evaluate various options is known as Scenarios, which enables complex what-if scenario analysis.
Step-by-step explanation:
The ability to program a spreadsheet to analyze different options and scenarios is referred to as Scenarios. This term typically describes a feature in spreadsheet software that allows you to change multiple sets of data and compare the results. Each set of data, or scenario, is configured to represent a different possibility, allowing for complex what-if analyses. Formulas are used to perform calculations, functions are predefined formulas that perform specific calculations, and macros are programmed sequences of actions to automate repetitive tasks. Out of the options provided, Scenarios is the correct answer.