The Five Phases of the Records and Information Life Cycle

question 39

Multiple Choice

The five phases of the records and information life cycle are

• A)creation, internal use, decisions, filing and retrieval, and disposition.
• B)creation, distribution, use, maintenance, and disposition.
• C)creation, reference, protection, transfer, and distribution.
• D)use, maintenance, receipt of a record, destruction, and transfer.

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Definitions:

Money Supply

The full amount of financial resources at an economy's disposal, including cash, coins, and the amounts in checking and savings accounts, at a particular moment.

Financial Intermediaries

Organizations that facilitate the channeling of funds between savers and borrowers, including banks, credit unions, and insurance companies.

Welfare Banks

Financial institutions focused on providing services and support to individuals in need, though not a widely recognized term in traditional finance.

Credit Unions

Member-owned financial cooperatives that provide savings, credit, and other financial services to their members.