Which of the Following Is True About Inheritance

question 4

Multiple Choice

Which of the following is true about inheritance?

• A) All public member functions of the base class become the public member functions of the derived class.
• B) All public member variables of the base class become the public member variables of the derived class.
• C) All public members of the base class become the public members of the derived class.
• D) The public member variables of the base class become the public or private member variables of the derived class.

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Definitions:

Parent Assets

Assets held by a parent company, including those arising from investments in subsidiaries and other entities over which the parent company has control.

Carrying Amount

The book value of assets and liabilities that is reported in the financial statements, calculated as the original cost minus any depreciation, amortization, or impairment costs made against the asset.

Fair Value

The financial figure anticipated when disposing of an asset or the price to move a liability in a regulated exchange involving market entities on the date of valuation.

Gain On Bargain Purchase

Occurs when a company acquires another company for a price less than the fair market value of its net assets, resulting in a gain on the acquisition balance sheet.