Can you help me understand in a practical example the usage abstract classes vs interfaces?

Question

Can you give me an almost overly simplistic understanding of abstract class vs inheritance use and help me so I can truly understand the concept and how to implement? I have

Answer 1

Abstract Classes: Establish a base for derived classes they provide a contract for all derived classes. It enforces heirarchies

Interfaces:

An interface is not a class, its a definition of methods.

A class can inheirt multiple interfaces but only one abstract class.

I hope that helps