Final answer:
The statement that VLOOKUP searches vertically in a column for a value is correct. It can retrieve data from different worksheets and does not return the row number but a specified value. Moreover, VLOOKUP can handle approximate matches as well.
Step-by-step explanation:
The correct statement about the VLOOKUP function in Excel is: a) VLOOKUP searches vertically in a column for a value. This function is quite versatile and allows you to search for a specific value (the 'lookup value') within a column of a table or range, and then returns a value from a specified column in the same row. It's important to note that:
- VLOOKUP can indeed be used to look up values across different worksheets; it is not limited to the same worksheet.
- The function does not return the row number of the lookup value; instead, it returns the value from a specified column.
- VLOOKUP is capable of handling both exact and approximate matches, depending on the range_lookup argument within the function.