What is a consequence of updating the standard price in the product master?

When the standard price in the product master is updated, the primary consequence involves the handling of historical pricing data. The correct response indicates that the past pricing history is effectively lost. This occurs because, in many systems, particularly in inventory management contexts, changing the standard price does not keep a record of what the previous price was, thereby eliminating the trace of historical pricing that could otherwise be referenced for financial analysis or reporting purposes.

By updating the standard price, organizations can streamline their current pricing strategy to reflect current market conditions or cost structure, but doing so means that the past pricing context will not be maintained within the system. This is crucial for businesses to understand when making pricing revisions, as it impacts the ability to conduct detailed price trend analysis over time.

The other choices revolve around the implications of such an update, like adjustments to historical costs or immediate effectiveness of the new price, but they do not accurately capture the primary consequence of losing access to past pricing history.