Returns one value if a logical expression is true and another if it is false.
value * (required) - logical expression
value_if_true * (required) - The value to return if the expression is true
value_if_false * (required) - The value to return if the expression is false
IF(1 > 3, '1 is greater than 3', '1 is less than 3') // returns "1 is less than 3"
IF(ISSELECTED($choice_field, 'Red'), 'Red is selected', 'Red is not selected') // returns "Red is selected"