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:

Master Budget

An inclusive financial planning document that combines all of a company's individual budgets and plans for a specific period.

Credit Sales

Sales made by a business where payment is delayed as per agreed terms between the seller and the buyer.

Direct Labor

The wages and benefits paid to workers who are directly involved in the production of goods.

Raw Materials

The basic materials that are used in the production process of goods, which will be transformed into finished products.