File represented by .ONE extension are created by Microsoft OneNote application. OneNote lets you gather information using the application as if you are using your draftpad for taking notes. OneNote files can contain different elements that can be placed at non-fixed locations on document pages. These elements may contain text, digitized handwriting, and objects copied from other applications including images, drawings and multimedia (audio/video) clips.
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Files with XLS extension represent Excel Binary File Format. Such files can be created by Microsoft Excel as well as other similar spreadsheet programs such as OpenOffice Calc or Apple Numbers. File saved by Excel are known as Workbook where each workbook can have one or more worksheets. Data is stored and displayed to users in table format in worksheet and can span numeric values, text data, formulas, external data connections, images and charts.
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You can also convert ONE into many other file formats. Please see the complete list below.