The GetSelectedIndex Method Returns

question 48

Multiple Choice

The getSelectedIndex method returns:

• A) the index of the selected item
• B) -1 if no item is selected
• C) both A and B
• D) neither A nor B

Understand and distinguish between current and long-term liabilities.

Understand the purpose and process of preparing the statement of owner's equity.

Grasp the mechanics and purpose of closing entries in the accounting cycle.

Know the accounts included in the post-closing trial balance and their significance.

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Definitions:

Equity

In legal contexts, refers to the body of principles constituting what is fair and right; in finance, refers to the value of an owner's interest in property or a business, after debts are subtracted.

Clean Hands

A legal doctrine stating that a party seeking equitable relief must be free from wrongdoing in the matter before the court.

Equitable Maxim

Fundamental principles or legal standards derived from equity law, guiding fair and impartial judgement in cases where common law is inadequate.

Equity

The principle of fairness and justice in the legal system, often compared to and different from strict legal rules or statutes.