Ensuring That Data Is Collected the Same Way Each Time

question 43

Multiple Choice

Ensuring that data is collected the same way each time it is collected is an example of:

• A) Data precision
• B) Data consistency
• C) Data currency
• D) Data Timeliness

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Definitions:

Comprehensive Income

A measure of all changes in equity of a company during a period from transactions and other events from non-owner sources. It includes all revenues and gains, expenses and losses.

Finance Costs

Expenses associated with borrowing money, including interest payments, bank charges, and other related costs.

Line Item

A specific and individual entry recorded in a financial statement or budget that represents income, expense, asset, or liability.