understanding IF function

I'm working through an Excel workbook and it is explaining IF Logical Functions. I am just looking to see if I'm understanding the formula correctly.

The salesperson gets a bonus of 10% if the quota of $100,00 is met or exceeded and zero if it's less than $100,000 and they provide the formula of

=IF(quota=>100000,quota*0.1,0)

and I interpret the formula as meaning

=IF([A]quota=>100000,[B]quota*0.1,[C]0)

[A] the quota is equal to or greater than 100000

[B] if [A] is true then the quota*0.1

[C] if [A] is false then it = 0


hope my thought process makes sense written out...

whoo hoo! thanks a ton! i love it when my brain actually works the right way!!