The Characteristics of Data Captured During Data Modeling Are Crucial

question 59

True/False

The characteristics of data captured during data modeling are crucial in the design of databases,programs,computer screens,and printed reports.

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Definitions:

FMV

Fair Market Value (FMV) is the estimated price that an asset would sell for on the open market between a willing buyer and a willing seller.

Basis

The initial cost of an asset, adjusted for factors such as depreciation or improvements, used to calculate capital gains or losses for tax purposes.

Debt

Debt represents money borrowed by one party from another under the condition that it is to be repaid, usually with interest.

Basis of Stock

The original value of an asset for tax purposes, usually the purchase price, which is used to calculate capital gains or losses when the stock is sold.