Final Answer:
The retention period for transaction storage is typically 30 days. This means that the system retains records of transactions for a duration of one month.Thus correct option is c) 30 days
Step-by-step explanation:
The retention period for transaction storage is typically 30 days. This means that the system retains records of transactions for a duration of one month. This duration allows for sufficient time to review, analyze, and address any issues or discrepancies that might arise in the transactions. It also complies with standard practices in data retention for auditing and tracking purposes.
In many industries and systems, maintaining transaction records for a month is crucial for various reasons. It allows for comprehensive monitoring of financial or operational activities, enabling businesses to conduct thorough analyses and investigations if necessary. Moreover, a 30-day retention period aligns with regulatory requirements in many regions, ensuring compliance and facilitating accountability.
Calculations aren't explicitly required for this answer, as the retention period is generally a set duration specified by the system or the organization. However, understanding the significance of a 30-day retention period involves considering the balance between storage capacity, operational needs, and regulatory compliance. This duration strikes a balance between having sufficient historical data for analysis while not overburdening systems with excessive storage requirements, making it a practical and standard choice for transaction retention in many setups.