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Master files:

Master files are files of a fairly permanent nature, e.g.,

customer ledger, purchase ledger, inventory, payroll, etc. They include some information which is of a permanent nature and also data which is continuously updated by recent transactions. These files are maintained throughout the file of the organization. Some of the futures of master files are:

  • These files hold data of a fairly permanent nature so these files should be properly designed and well maintained.
  • Because to their regular updating, these files show the current status of the organization.

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Q: What is Master file of computerized accounting system?
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