A(n) ____ Describes Potential Objects

question 34

Multiple Choice

A(n) ____ describes potential objects.

• A) instance
• B) class
• C) attribute
• D) state

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Definitions:

Goodwill

The excess amount paid over the fair value of the net assets of a company during an acquisition, representing intangible assets like brand reputation or customer loyalty.

Entity Method

A consolidation approach in financial accounting where the parent and subsidiary's financial statements are combined as if they were a single entity.

Gross Margin

The difference between revenue and cost of goods sold, which shows the profitability of a company's core activities.

Inventory

The total value of all the goods that a company has in stock and intends to sell.