Concept:A master file is the main permanent file that keeps an organisation's cumulative and historical records.
Explanation:A master file stores permanent and semi-permanent records, such as customer ledgers and student databases.
These records are updated regularly using current transaction details, while retaining past entries for future reference.
This makes the master file the file that contains historical records.
A transaction file only holds recent activities, not the complete historical data.
A reference file contains fixed standard information like price lists, not historical records.
A data file is a general term and does not specifically refer to historical records.
Therefore, the correct option is the one that names the master file.
Answer:B. master file