What Is Information Inconsistency

question 66

Multiple Choice

What is information inconsistency?

• 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:

Cash Equivalents

Investments of a short-term nature that are both easily converted into precise cash amounts and carry a minimal risk of fluctuating in value.

IFRS

Stands for International Financial Reporting Standards, which are designed to make company accounts understandable and comparable across international boundaries.

Highly Liquid Investments

Investments that can easily and quickly be converted into cash with little loss of value.

Petty Cash Fund

A modest sum of money held in reserve for small or unplanned expenses.