I have a Excel sheet that I created to organize my holiday. I have a 'front' sheet I have titles itinerary. On this sheets are some bullet points with the times and dates for specific events. Next to the bullet points is an icon which is specific to the bullet. i.e. we have a surf school booked...
Cyclic references do show up. It is not difficult to inadvertedly create one.
Excel for desktop most of the time tells us about the fact immediately and demonstrates where the cycle is. However, if the cycle is created by values which are spilled to neighboring cells, we get only a warning...
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