Because of Potential Problems, Developers Must Be Aware of the Effects

question 57

True/False

Because of potential problems, developers must be aware of the effects of modifications in a superclass and in each of the subclasses that will inherit the modification.

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Definitions:

Normal Balance

The side of an account on which increases are recorded, typically the debit side for assets and expenses, and the credit side for liabilities, equity, and revenue.

Account Nature

The characteristic of an account that classifies it as an asset, liability, equity, revenue, or expense.

Periodic Inventory Method

An accounting method where inventory and cost of goods sold are calculated at set intervals, such as yearly or quarterly.

Promissory Note

A formal written promise by a borrower to pay a certain sum at a fixed future date.