Case-Based Critical Thinking Questions Case 1 - Frames Unlimited

question 4

Multiple Choice

Case-Based Critical Thinking Questions Case 1 - Frames Unlimited
Frames Unlimited is a wholesale picture and poster frame business. Frame data is stored in sequential access files that contain four columns: item number, item name, size, and price.
Which of the following statements should be used first when opening the input file?

• A) If IO.File.Exists("pictureFrame57.txt") Then
• B) If IO.File.Exists("pictureFrame.txt") Then
• C) inFile = IO.File.OpenText("pictureFrame57.txt")
• D) inFile = IO.File.OpenText("pictureFrame.txt")

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Definitions:

Net Income

The net income of a business once all costs, such as operating expenses and taxes, are subtracted from its total earnings.

Income Sharing

An arrangement where generated income is distributed among participants or partners, often in proportion to their investment or contribution.

Capital Balances

The amount of equity in a company or partnership owned by shareholders or partners, respectively.

Interest

The cost of borrowing money, typically expressed as a percentage of the principal, paid to the lender over a period of time.