Logical test means a condition when evaluated by computer whose result/outcome is true or false, there is no third option, for example if a student secures more than 45 marks it is considered as pass otherwise fail.
In Excel a single IF function (IF(logical_test, value_if_true, value_if_false)) evaluate only one logical test at one time, if we have more than one conditions/logical tests, then we use AND function or OR function along with IF Function.
Read more What is logical test in excel?
Returns the logical value TRUE. You can use this function when you want to return the value TRUE based on a condition. For example:
You can also enter the value TRUE directly into cells and formulas without using this function. For example:
If the condition is met, Excel returns TRUE in both examples. If the condition is not met, Excel returns FALSE in both examples.
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the OR function, one of the logical functions, to determine if any conditions in a test are TRUE.
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You can use the IFERROR function to trap and handle errors in a formula. IFERROR returns a value you specify if a formula evaluates to an error; otherwise, it returns the result of the formula.
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The IF function is one of the most popular functions in Excel, and it allows you to make logical comparisons between a value and what you expect.
So an IF statement can have two results. The first result is if your comparison is True, the second if your comparison is False.
Read more IF Function