Given the Following Diagram Showing Class Relationships: What of the Following

question 47

Multiple Choice

Given the following diagram showing class relationships: What of the following best describes the type of relationship shown between Bank and Customer?

• A) Customer aggregates Bank, indicating that a customer may deal with many banks.
• B) Bank aggregates Customer, indicating that a bank may deal with many customers.
• C) Bank depends on Customer, indicating that a bank may deal with many customers.
• D) Customer depends on Bank, indicating that a customer may deal with many banks.

Understand the preparation and purpose of a trial balance in the accounting cycle.

Distinguish between accounts payable and receivable and their recognition in accounting records.

Acknowledge the role of equity actions (e.g., issuance of common stock) in affecting shareholder's equity.

Comprehend the classification and recognition of revenues and expenses and their impact on equity.

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Definitions:

Federal Income Tax

The annual income of individuals, corporations, trusts, and other legal organizations is subject to taxation by the IRS.

Gross Pay

It's the total amount of compensation that an employee receives before any deductions, such as taxes and retirement contributions, are made.

FICA-OASDI

The portion of the U.S. Federal Insurance Contributions Act tax that funds the Social Security retirement, disability, and survivors' benefits.

Federal Income Tax

A tax levied by the federal government on the annual income of individuals, corporations, trusts, and other legal entities.