Which of the Following Statement Is True About Master File

question 3

Multiple Choice

Which of the following statement is true about master file?

• A)Individual master file records are permanent.
• B)Individual master file records may change frequently.
• C)Individual master file records are sometime being referred to as date value.
• D)Individual master file records are sometime being referred to as entity.

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Definitions:

Journal Entry

A record in accounting that represents a transaction where debits and credits are entered, reflecting changes in accounts.

Straight-Line Method

A method of calculating depreciation by evenly allocating the cost of an asset over its useful life.

Semiannual Amortization

The process of periodically reducing the value of a debt or an intangible asset over two times in a year.

Issuing Corporation

A company that has issued securities through an initial public offering (IPO) and has its shares bought and sold by investors.