Elaborate on "classes as building blocks of structural modeling and objects as units of information systems."
What will be an ideal response?
A structural model is distinguished from another structural model by the nature of its building blocks (or units) and how the units are connected. The structural model of information systems is composed of classes and their interrelationships. At runtime, when the information system is actually created, classes are "instantiated" into objects that function as the units of the information system. In other words, classes act both as units of modeling and as templates for units of the information system.
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Which type of control is considered a compensating control?
a. segregation of duties b. access control c. supervision d. accounting records
In a deferred payment arrangement, interest is charged only if it is stated
Indicate whether the statement is true or false
What were the consequences of the Federal Trademark Dilution Act of 1995 (FTDA)?
What will be an ideal response?
The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts: Accounts receivable$440,000?DebitAllowance for Doubtful Accounts 1300?CreditNet Sales 2,150,000?CreditAll sales are made on credit. Based on past experience, the company estimates 3.0% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $6450; credit Allowance for Doubtful Accounts $6450. B. Debit Bad Debts Expense $13,200; credit Allowance for Doubtful Accounts $13,200. C. Debit Bad Debts Expense $14,500; credit Allowance for Doubtful Accounts $14,500. D. Debit Bad Debts Expense $11,900; credit Allowance for Doubtful Accounts $11,900. E. Debit Bad Debts Expense $16,450; credit Allowance for Doubtful Accounts $16,450.