Discuss the Hierarchical Database Model

question 13

Essay

Discuss the hierarchical database model.What limitation(s)of the hierarchical database model are solved by the network database model?

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Definitions:

Deferred Payments

Payments or income that are delayed to a future date, which can have various tax implications depending on the nature of the deferral and the tax rules applicable.

Adjusted Basis

The original value of an asset adjusted for factors such as depreciation or improvements.

Like-kind Exchange

A tax deferment strategy allowing for the exchange of similar types of property without the immediate tax liability.

FMV

stands for Fair Market Value, which is the estimated price an asset would sell for on the open market under current conditions.