Inheritance means any content or changes you make in the master version will take effect  in all other versions. 

So if you write a headline in your master version, the same headline will appear in all your other versions. 

Or if you change an image in your master version, it will change in all your other versions too. 

If you don't want all your versions to inherit from your master version, you can break the inheritance.   

Useful Links:
Breaking Inheritance | Restoring Inheritance | Working with Inheritance | Master Versions vs Non Master Versions

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