Correct Answer - Option 2 : Replace text
In MS-PowerPoint-2007 short-cut key Control + H is used to replace text in the document.
Step 1:
Go to Home > Replace or press Ctrl+H.
Step 2:
Enter the word or phrase you want to locate in the Find box.
Step 3:
Enter your new text in the Replace box.
Step 4:
Select Find Next until you come to the word you want to update.
Step 5:
hoose Replace. To update all instances at once, choose Replace All.