Field &1 does not exist in (active version of) table &2

What causes this issue?

The table &2 contains no suitable field for the (possibly generic)
specification of the field name &1 .

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Please check whether the table is active and whether your input was
correct.

Error message extract from SAP system. Copyright SAP SE.