What Is a Range Check?  Provide an Example of a Range

question 76

Essay

What is a range check?  Provide an example of a range check using a series of if..else statements using the values defined below.
final double HIGH_LIM = 1000.00;
final double HIGH_RATE = 0.08;
final double MED_LIM = 500.00;
final double MED_RATE = 0.06;
final double LOW_RATE = 0.05;

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Definitions:

Statement of Retained Earnings

A financial statement that outlines the changes in retained earnings for a specific period, including net income earned or loss and dividends paid.

Stockholders' Equity

Stockholders' Equity is the residual interest in the assets of a corporation after deducting its liabilities, representing the ownership interest of shareholders.

Paid-in Capital

The total amount of money that shareholders have invested in a company through the purchase of its stock, not including the stock's par or face value.

Retained Earnings

Retained earnings are the portion of a company's profits that are kept or retained within the company for reinvestment in business operations, rather than being paid out as dividends to shareholders.