When a Data Repository (Including Internal and External Data) Does

question 13

Multiple Choice

When a data repository (including internal and external data) does NOT follow a predefined schema, this is called a:

• A) data dump.
• B) data ocean.
• C) data lake.
• D) data stream.

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Definitions:

Transposition

The error of switching the order of digits in numbers, often leading to inaccuracies in financial or data records.

General Ledger

A comprehensive record of all financial transactions over the life of a company, used to prepare financial statements.

Nominal Account

An accounting ledger account that starts each new accounting period with a zero balance and ends with a closed balance to transfer to a real account.

Retained Earnings

Retained Earnings represent the cumulative amount of net income earned by a company that has not been distributed to shareholders as dividends.