A precedent supplies a value to a formula. A dependent uses a cell's value. When a result looks wrong, tracing these relationships helps you decide whether to inspect the formula itself or the assumptions upstream.
Select a formula cell and choose Formulas > Trace Precedents. The blue arrows point from its inputs to the selected cell. Select an input and choose Trace Dependents to find formulas that use it. These are different questions: where did this result come from, and what changes if this input changes?
Remove Arrows clears the worksheet's tracing overlay without changing formulas. Error Checking lists errors such as division by zero. A valid formula can still refer to the wrong cell, so follow the references even when Excel reports no syntax error.