The Scope of a Local Variable Is

question 4

Multiple Choice

The scope of a local variable is

• A) inside the parentheses of a method header
• B) the method in which it is defined
• C) inside the class but not inside any method
• D) the entire class

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Definitions:

Fair Value Adjustment

An accounting adjustment made to update the reported value of a financial asset or liability to its current market value or fair value.

Stock Investments Account

A financial account holding shares of stocks that represents ownership in companies.

Equity Method

An accounting technique used to record investments in associate companies, reflecting the investor's proportional share of the investee's net income or losses.

Cost Method

An accounting method in which the investment in common stock is recorded at cost, and revenue is recognized only when cash dividends are received.