Symbol Substitution

Order of Substitution:

1. Ampersand(&)

2. Apostrophe(‘)

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Symbol substitution occurs in the order shown.

First, symbols preceded by an ampersand are processed. The value of a symbol preceded by an ampersand is treated as a single “word” or token.

Second, symbols preceded by apostrophes are processed. When expanded, the value of a symbol preceded by apostrophe is treated as one or more “words” or tokens.