What does the NOW function return in Excel?

The NOW function in Excel is designed to return both the current date and the current time in a single value. When you use the NOW function, it provides a timestamp that reflects the exact moment it is calculated, which combines both elements. This feature is particularly useful for tracking time-sensitive data, as it allows users to create dynamic timestamps that update each time the worksheet recalculates.

In contexts where you're working with time-sensitive data, having both the date and time is essential for analysis, reporting, or time-stamping entries. This distinguishes the NOW function from other functions that only provide either the date or the time separately.

While the other options mention only the current time, the current date, or a fixed timestamp of the last update, these are not applicable to the NOW function. It is explicitly designed to give you a real-time reflection of both date and time combined.