For the worksheet I am working on, do I need to keep all macro statements in
sheet 1 (VBA Project, MS Excel Objects)? After I execute Alt-F11.

Most of the updates to the worksheet can be combined in the same macro.
Different execution steps and logic required may require a different macro.
Can I have multiple macros in sheet 1 (in VBA Project)?

Is a separate sheet required in VBA editor only when a separate worksheet
is used (ie. worksheet 3 reads the macros in sheet 3 (VBA Editor) only?

Thanks for clearing this up for me - Tom