CE stands for "Clear Entry," which means that when you press it, you only remove the value you most recently typed into the calculator. For example, if you wanted to do 8 * 64 +30 but you type 8 * 64 + 6, press this and then you can just type 30 and fix the problem.
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I believe that CE stands for "clear entry", whilst AC stands for "all clear" Drugs are bad