Master Data Management Is the Disciplines, Technologies, and Methods to Ensure

question 30

True/False

Master data management is the disciplines, technologies, and methods to ensure the currency, meaning, and quality of data within one subject area.

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Definitions:

Normal Balance

The side of an account (debit or credit) that is expected to have a higher balance based on the accounting rules.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically including balance sheet, income statement, and cash flow statement.

Normal Balance

The side (debit or credit) of an account that is usually increased. For example, assets have a normal debit balance, while liabilities have a normal credit balance.

Financial Statement

Documents that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.