Data Is Said to Be Persistent When It Resides on Stable

question 18

True/False

Data is said to be persistent when it resides on stable storage and is never removed or archived for the life of the business.

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Definitions:

Goodwill

An intangible asset that arises when a business is acquired for more than the fair market value of its net assets, representing future economic benefits from unidentifiable assets.

Consolidation

The process in businesses where the financial statements of several departments or subsidiaries are combined to present as those of a single entity.

Previous Business Combination

Refers to a merger or acquisition that has occurred in the past where two or more entities combined to form a single entity.

Pre-acquisition Entry

Accounting entries made to record the assets and liabilities acquired from another company before the actual acquisition.