IF with two or more conditions in Formula

#1

Hi All,

Is is possible - within a formula (e.g. to calculate a new column ) - to have an IF statement with two conditions, e.g.

If FIELD A contains “dog” and FIELD B contains “cat” then “pets” ELSE …etc…

I know we can reproduce this effected with a nested if statement, but that requires a lot more work in the case I am dealing with now.

Thank you

#2 
if( contains([FieldA], 'dog') and contains([FieldB], 'cat')), 'pets', etc...)