Final answer:
b. use an ERP.To mitigate the risk of destruction of master data in an ERP system, the firm should implement backup and disaster recovery procedures, ensuring business continuity in case of data compromise.
Step-by-step explanation:
The best way to mitigate the risk of the destruction of master data when a firm uses an ERP system is to implement backup and disaster recovery procedures. Relying solely on the ERP system to safeguard master data would not be sufficient because the system itself could be compromised.
Proper segregation of duties is important for internal control but does not directly protect against data loss. Using multiple master data files could also be complicated and may not offer the required protection against disasters.
Consistent and secure backup practices, coupled with robust disaster recovery plans, ensure that if the master data is compromised due to any reason such as system failures, natural disasters, or cyber attacks, it can be restored and the business operations can continue with minimal disruption.