Local Variables

question 14

Multiple Choice

Local variables:

• A) are hidden from other methods
• B) may have the same name as local variables in other methods
• C) lose the values stored in them between calls to the method in which the variable is declared
• D) All of the above

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Definitions:

Note Receivable

A written promise that entitles the holder to receive payments from a debtor according to agreed terms.

Short-Term Note

A debt obligation with a maturity of less than one year, typically used for immediate financing needs.

Interest Due

The amount of interest that has been accrued and is payable on borrowings for a specified period.

Allowance Method

An accounting technique used to estimate and write off bad debts or accounts receivable that are not likely to be collected.