Same as a lookup list but consists of a fixed set of values you type in when the lookup is created. A value list should only be used for values that will not change very often and don't need to be stored in a table. To check if things worked, change views to Datasheet view. As in Excel, you can use functions in Access. For example, you can use functions in forms, reports, the design of tables, etc.
Functions have the same format as in Excel.