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Default comparing data in different rows

i'm working on a long (approx 5000 lines) data sheet and i have a different
list containing erroneous values that relate to a particular row in the 1st
data sheet. i would need to run a function which gives me say a true/false
next to each cell in this particular row wherever it finds a matching value
from the second list of errors. more specifically, say i have the value '1'
in the first data sheet and i have '1', '2', '3', '4' as erroneuos values in
the error list, therefore i would like to see TRUE next to this cell, and say
i have '5' in the cell then i would like to see FALSE in the cell next to it
(since '5' is not listed as an erroneous value in the 2nd list). well, hope
this makes sense. i have been trying to create a multi-function for this
using IF, VLOOKUP etc. without success and it's extremely time consuming to
delete each erroneous value manually. any help is appreciated
 
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