Association of Chartered Certified Accountants (ACCA) Certification Practice Test

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Which is the best description of 'personal data' as per data protection standards?

Data about financial institutions
Information regarding a corporation's structure
Any information that identifies a living individual
General data about economic trends

The correct answer is: Any information that identifies a living individual

The best description of 'personal data' according to data protection standards is any information that identifies a living individual. This definition encompasses a wide range of information, including names, identification numbers, location data, and online identifiers, as well as any other information that can be used to directly or indirectly identify a person. The importance of this definition lies in its focus on protecting the privacy and rights of individuals, ensuring that their personal information is handled lawfully and with respect. Other options fail to meet the criteria for personal data as they pertain to information that does not identify individuals. Financial institutions, corporate structures, and general economic trends are categorized as organizational or economic data, which do not directly relate to individual identification and, therefore, are not subject to the same level of protection under data protection laws.