In Object-Oriented Programming, __________ Allows You to Extend the Capabilities

question 35

Multiple Choice

In object-oriented programming, __________ allows you to extend the capabilities of a class by creating another class that is a specialized version of it.

• A) prototyping
• B) code reusability
• C) inheritance
• D) data hiding

Recognize how gains or losses are recorded on the disposal of assets.

Understand the accounting treatment for tangible and intangible asset exchanges.

Identify and apply the appropriate treatment for intangible assets, including recognition and amortization.

Understand the calculation of gain or loss on the disposal of long-lived assets.

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Definitions:

Plantwide Predetermined

A uniform overhead rate used across an entire plant or factory, calculated by dividing estimated overhead costs by an estimated allocation base like labor hours or machine hours.

Machine-Hours

An operating measure that quantifies the amount of time production equipment is utilized in the manufacture of goods.

Predetermined Overhead Rate

A rate calculated before a production period based on estimated overhead costs and estimated activity, used to allocate overhead costs to products.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead to individual products or projects, based on expected conditions.