When Programming in an Object-Oriented Language, an Example of an Object

question 103

True/False

When programming in an object-oriented language, an example of an object would be a set of data about a customer's account and the operations that are performed on the data.

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Definitions:

Transactions

Economic events that require recording in the financial statements because they affect assets, liabilities, or equity.

Normal Balance

The side (debit or credit) of an account that is increased, reflecting the account's natural balance.

Asset Account

An account that records the value of assets owned by a company, such as cash, inventory, and equipment.

Financial Statement

A record that details the financial activities and conditions of a business or individual, commonly including the balance sheet, income statement, and cash flow statement.