In term of big data, Veracity includes the uncertainty of data, including biases, noise, and abnormalities.
A big data characteristic related to consistency, accuracy, quality, and trustworthiness is veracity. The biasness, noise, and abnormality in data are all examples of data veracity. It also refers to data that is incomplete or contains errors, outliers, or missing values. The enterprise faces a significant challenge in converting this type of data into a consistent, consolidated, and united source of information.
While enterprises' primary focus is on utilizing the full potential of data to derive insights, they frequently overlook the issues caused by poor data governance. When it comes to big data accuracy, it's not just about the quality of the data; it also depends on how trustworthy your data source and data processes are.
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Answer and Explanation:
The classifications are as follows
A. For net income:
Income Statement, Statement of Retained Earnings and cash flow statement in case when indirect method is followed)
B. For ending retained earning balance
Comes under Retained Earnings Statement and Balance Sheet
C. For depreciation expense
The Income statement, and cash flow statement in case when indirect method is followed)
D. For Dividend declared
Comes under Retained Earnings statement