Which of the Following Is a Good Master Data Management

question 107

Multiple Choice

Which of the following is a good master data management strategy?

• A)upgrading technology
• B)creating shadow systems
• C)creating a database schema
• D)focusing on key areas

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Definitions:

Voucher System

A control mechanism in accounting that uses vouchers to record transaction details and authorize cash disbursements.

Voucher System

An internal financial control system for managing disbursements and ensuring all transactions are properly documented and approved before payments are made.

Periodic Inventory Method

An accounting method where inventory is physically counted at the end of each period to determine the cost of goods sold and ending inventory.

Petty Cash Fund

Fund (source) that allows payment of small amounts without the writing of checks.