In a Class Hierarchy

question 29

Multiple Choice

In a class hierarchy:

• A) the more general classes are toward the bottom of the tree and the more specialized are toward the top
• B) the more general classes are toward the top of the tree and the more specialized are toward the bottom
• C) the more general classes are toward the left of the tree and the more specialized are toward the right
• D) the more general classes are toward the right of the tree and the more specialized are toward the left

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Definitions:

Financial Statements

Reports that summarize the financial performance, position, and cash flows of a business over a specific period.

Net Income

The net income of a business following the subtraction of all costs and taxes from the total earnings.

Ending Inventory

Ending inventory is the total value of goods available for sale at the end of an accounting period, calculated using the beginning inventory, additions, and subtractions of goods sold.

Depreciation Expense

An accounting method of allocating the cost of a tangible asset over its useful life.