Which of the following are considered master data in financial accounting?

The definition of master data in financial accounting includes the key entities that are crucial for the operations and reporting within the financial processes. Among the options provided, a general ledger account is categorized as master data because it serves as the primary record for all financial transactions within an organization.

General ledger accounts aggregate financial transactions and provide insight into the financial health of a company. They are essential for accurate reporting and analysis, forming the backbone of financial accounting systems. Without general ledger accounts, it's not possible to organize financial data into meaningful reports.

While other options such as cost center master records and asset accounts also represent critical financial data, they are more specialized components within the broader framework of financial accounting. Cost centers relate specifically to the internal management of costs, whereas asset accounts are specific types of general ledger accounts that deal exclusively with the company's assets. The leading ledger is a structural part of the SAP system that facilitates financial reporting but is not itself considered master data. Thus, the general ledger account rightly qualifies as a fundamental piece of master data in this context.