The Original Class That Is Used to Derive a New

question 14

Multiple Choice

The original class that is used to derive a new class using inheritance is called ____________________ .

• A) a superclass
• B) a parent class
• C) a base class
• D) all of the above
• E) neither a, b, nor c

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Definitions:

Cost of Goods Sold

An accounting term that represents the direct costs attributable to the production of the goods sold by a company.

Ending Inventory

The cumulative monetary value of products available for selling by the close of a fiscal period.

Net Income

The profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenue.

Overstated Inventory

A situation in accounting where the value of inventory is recorded higher than it actually is, leading to inaccurate financial statements.