When an Organization Has Inconsistent Duplicated Data, It Is Said

question 77

Multiple Choice

When an organization has inconsistent duplicated data, it is said to have a(n) ________.

• A)information silo
• B)data integrity problem
• C)error of omission
• D)data segregation problem

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Definitions:

Full Disclosure

A principle requiring that all material facts and information related to financial transactions be disclosed in financial statements.

Conservatism Principle

An accounting principle that advises reporting expenses and liabilities as soon as possible, but revenue only when it is ensured.

Gross Profit Method

An inventory valuation method used to estimate the cost of goods sold and ending inventory levels by applying a gross profit margin to sales.

Gross Profit Ratio

The gross profit ratio is a financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold (COGS), expressed as a percentage.