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In this video, the tutorial covers the comment and note functionalities in Google Sheets. To insert a note, the user can right-click and select "Insert note," allowing for personal annotations. Notes can be removed by right-clicking and choosing "Clear notes." For comments, the process is similar; right-clicking allows the user to add a comment and tag others for visibility. Comments display an orange triangle icon, which shows the comment when hovered over. Users can reply to comments and track comment history. While both features aid in document collaboration, comments offer more dynamic functionalities, especially in shared documents.