Case-Based Critical Thinking Questions Case 1 - Frames Unlimited

question 43

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.
An application uses the posterFrame.txt sequential access file to display all of the poster frames in a list box. You need to use the list box to select and remove any poster frames that are 16x20. Which of the following statements determines if a line is selected in the list box?

• A) if lstPosters.SelectedIndex -1 Then
• B) if lstPosters.Selected -1 Then
• C) if lstPosters.SelectedIndex = -1 Then
• D) if lstPosters.Selected = -1 Then

---

Definitions:

Economic Profit

The discrepancy between sum revenue and sum expenses, taking into account both acknowledged and assumed costs.

Principal-Agent Problem

A dilemma in relationships when one party (the agent) is expected to act in the best interest of another (the principal), but has the potential to act in their own self-interest instead.

Stockholders

Individuals or entities that own shares in a corporation, giving them partial ownership and possibly dividends based on the company's performance.

Profit Maximization

A process or strategy used by businesses to achieve the highest possible profit, considering revenue and costs.