Concerning a Master File,which of the Following Statements Is False

question 57

Multiple Choice

Concerning a master file,which of the following statements is false?

• A) A master file is conceptually similar to a ledger in a manual AIS.
• B) A master file stores cumulative information.
• C) A master file exists across fiscal periods.
• D) A master file's individual records are rarely, if ever, changed.

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Definitions:

Nonpublic Corporation

A corporation whose shares are not traded publicly on stock exchanges and is usually privately held, often family-owned or with a small group of investors.

Transferable

A feature of an asset or financial instrument that allows it to be transferred or sold from one party to another without restriction.

Nonprofit Corporation

An organization established for purposes other than making a profit, such as charitable, educational, or cultural.

Members

Individuals who are formally part of an organization, group, or body, often with specific rights and responsibilities.