Final answer:
The VLOOKUP function in Excel is used to search for a value in the first column of a table and return a corresponding value from another column in the same row.
Step-by-step explanation:
The correct statement about the VLOOKUP function in Excel is 1) It is used to search for a value in the first column of a table and return a corresponding value from another column in the same row.
Unlike the second option, VLOOKUP can search for values in any order, not just ascending order.
Also, the third statement is incorrect as VLOOKUP can be used with any type of data, not just numerical values.
Lastly, the fourth statement is incorrect as the VLOOKUP function is available in multiple versions of Microsoft Excel, not just in 2010 or later versions.