The IT Governance Committee Will Be Constantly Monitoring the IT

question 65

True/False

The IT governance committee will be constantly monitoring the IT system to look for fraud and system abuse.

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Definitions:

Lump Sum Payment

A single payment made at a particular time, as opposed to several smaller payments or installments.

Compounded Annually

A method of calculating interest where the interest earned over a period is added to the principal, and the total becomes the base for the calculation of the next period's interest.

Lump Sum Payment

A payment made in a single lump sum amount, often used in the context of paying off debts or settling transactions.

Sinking Fund

A reserve fund established by setting aside revenue over a period of time to fund a future capital expense or repay a long-term debt.