What distinguishes the LOOKUP function from the LOOKUP (table) function?

The distinguishing factor of the LOOKUP function compared to the LOOKUP (table) function is that the LOOKUP function operates independently of worksheet structures. This means that it can perform lookups directly within a dataset or formula context without needing to reference a specific table format explicitly.

In contrast, the LOOKUP (table) function is specifically designed to search through tables or arrays, which require a structured format to be effective. This capability allows LOOKUP (table) to easily navigate table-like data for retrieving values based on specified criteria.

The other options presented do not accurately highlight the differences between the functions. For instance, LOOKUP is not limited to just mathematical calculations nor is it confined to handling only string values. Additionally, it is capable of working with multiple records, allowing for a range of flexible applications beyond what might typically be considered. Thus, option A correctly identifies the operational independence of the LOOKUP function.