Case 10-1 as You Prepare to Teach a Class on the Fundamentals

question 19

Multiple Choice

Case 10-1 As you prepare to teach a class on the fundamentals of databases, you want to create a real-world example that will help define some of the key terms for this concept. You have a table called AutoRepairDetails, which includes columns labeled Make, Model, LicensePlate, RepairCost, and OwnerName. In this table, which term best describes the role that RepairCost plays in the table?

• A) row
• B) field
• C) record
• D) id

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Definitions:

Accounting Equation

The foundational equation of double-entry bookkeeping, stating that Assets equal Liabilities plus Equity, underpinning the structure of the balance sheet.

Asset

Resources owned or controlled by a business that are expected to produce economic benefits in the future.

Liability Accounts

Accounts on a company's balance sheet that represent the debts or obligations that it owes to others.

Stockholders' Equity

The portion of a company's capital that belongs to its shareholders, represented by the residual assets after deducting liabilities, often referred to as shareholder equity or owner's equity.