What Is Master Data Management

question 102

Multiple Choice

What is master data management?

• A) Occurs when the same data element has different values.
• B) Occurs when a system produces incorrect, inconsistent, or duplicate data.
• C) Refers to the overall management of the availability, usability, integrity, and security of company data.
• D) The practice of gathering data and ensuring that it is uniform, accurate, consistent, and complete, including such entities as customers, suppliers, products, sales, employees, and other critical entities that are commonly integrated across organizational systems.

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Definitions:

Double Taxation

A taxation principle referring to income taxes paid twice on the same source of earned income, typically seen in corporate dividends taxed both at the corporate level and again at the individual level.

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, entering into contracts, and owning assets.

Transfer Ownership

The act of moving legal title and rights from one entity or person to another.

Capital Budgeting

Capital budgeting is the process by which companies evaluate and prioritize investments in long-term assets and projects based on potential returns and strategic goals.