Which term is correct for a work submitted for a master's degree: paper, thesis or dissertation? What is the difference among the terms paper, thesis and dissertation?  Which one should I use, for instance if I am completing a master's degree? Are they interchangeable ?
A paper usually refers to a published article but can also mean a shorter written essay, for example as in term-paper. The thesis and dissertation is basically equivalent, at least in its use. Originally a thesis is more than the written work, it is the thought or thinking coupled to the problem as the original meaning of the word indicates. From this perspective the word dissertation is used for the written work that comes out of your degree work.

So for a master degree, you will see masters thesis and masters dissertation used interchangeably. I would suggest checking what is used in your department or university and use whatever is customary.