MS Excel
Each excel file is called a workbook because

It can contain text and data
It can be modified
It can contain many sheets including worksheets and chart sheets
You have to work hard to create it

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MS Excel
When you link data maintained in an excel workbook to a word document

The word document contains a reference to the original source application
The word document cannot be edit
The word document must contain a hyperlink
The word document contains a copy of the actual data

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