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The Object Inspector panel is a snap shot of the attributes (properties and events) of the current control / component on the form or the form itself. You have the ability to change objects’ properties and select event handlers.
Since components have three items : Properties, Events and Methods. Properties and Events are displayed for the currently focussed component such as a button or the script form on the pages of the tabs of the Object Inspector panel. The methods are "invisible" but available for use in the scripts.
For example if you wanted to make a button invisible, you invoke the Button's Hide method in your script.
See also