A Direct Payment Is a Preauthorized Electronic Payment

question 141

True/False

A direct payment is a preauthorized electronic payment.

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Definitions:

Control Procedures

These are policies and practices that organizations put in place to ensure the integrity of their financial and accounting information and to prevent fraud.

Reasonable Assurance

A level of confidence in the accuracy or reliability of a process, often used in context with financial controls and auditing.

Vulnerabilities

Weaknesses in a system that can be exploited by threats to gain unauthorized access or cause harm.

Information And Communication

The processes and systems used to create, capture, distribute, and use information, enabling effective exchange and understanding among individuals or organizations.