Formulae visibility to examiner within the cell, section C excel

Hi Just a quick question, can examiners see the contents of the cell in the excel section C when they are marking the exam? How detailed do I need to be when I show my workings? For example, with NPV I'm used to calculating inflated price within one cell, for example, =(volume+price)*(1+inflation rate)^year). Do I need to show every step out and show how I got the numbers even if it's pretty obvious if you click to edit? Or do I need to be super obvious and presume they can only see the end value of the cell? Thanks