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Typed in literally it won't do anything, except show it in the cell. If you put the equals sign before it, it will give an error. The ampersand can be used to concatenate text, including spaces, so it is usually used in connection with other pieces of text in cells. So for example if you had America in cell A1 and in A2 type in:

="United States of "& A1

It would put United States of America in cell 2

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Q: What does ampersand quote quote do in excel?
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