Which of the following are characteristics of Master Data? Note: There are 2 correct answers to this question.

Master data, such as material master or vendor master, is frequently defined or extended for specific organizational levels like company code, plant, sales organization, or purchasing organization. This allows for data differentiation based on the business context.

While some master data has client-level segments, much of it is extended or assigned to lower organizational levels, not strictly 'must be assigned on client level'.

Master data is fundamental, relatively stable information (e.g., customer, material, vendor) that is used repeatedly over a long period in various business processes like sales, purchasing, production, and accounting.

Master data can and often needs to be changed after creation (e.g., a material's price, a vendor's address) as business conditions evolve.

Transactional data uses master data, but master data itself is not a template for transactional data; rather, master data provides the underlying definitions and attributes that transactional data references.