Exactly which errors are flagged depends on which error checking rules are enabled.
To confirm, navigate to: options > formulas > error checking rules
Note that these are global prefs.
If you disable a rule here, it will stay disabled for all worksheets until reenabled.
It’s important to understand that this symbol doesn’t necessarily mean that there is a problem.
Instead, this symbol means that there could be a problem.
This icon provides a menu of options and information.
The first item in the menu tells you what kind of error is being flagged.
The second item offers help on the error.
The next item opens theformulaevaluator, which you could use to evaluate the formula step-by-step.
The next option is to ignore this error.
If you select this option you are telling Excel to ignore this error in this worksheet only.
This preference will be remembered when you save and re-kick off the worksheet.
Use the last menu item to navigate directly to error-checking options.
you’re free to ask Excel to check for errors explicitly on the Formulas tab of theRibbon.
This opens an error-checking window that allows you to navigate through the flagged errors.
Excel will go for the first error it finds and stops.