There Are Two Overall Approaches to Maintaining Data: the Traditional

question 4

Multiple Choice

There are two overall approaches to maintaining data: the traditional file approach-which has no mechanism for tagging,retrieving,and manipulating data-and the ____,which does have this mechanism.

• A) database approach
• B) data approach
• C) datafile approach
• D) indexed file approach

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Definitions:

Foreign Tax Credit

A non-refundable tax credit for individuals who have paid taxes to foreign countries, aiming to reduce double taxation on the same income.

Foreign Income Taxes

Taxes imposed by a foreign government on income earned within its jurisdiction by non-resident individuals or entities.

U.S. Tax Liability

The total amount of tax owed to the United States government by an individual or entity for a given tax year.

Total Income

The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes.