A Steering Committee Is a Group of Senior Managers from the Major

question 45

True/False

A steering committee is a group of senior managers from the major business functions that works with the chief information officer to set the IS priorities.

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Definitions:

Future Value

The estimated value of a current asset or an amount of money at a specified date in the future, based on an assumed rate of growth or interest.

Interest Component

The portion of a payment that is attributed to interest on borrowed capital.

Compounded Annually

An interest calculation method where the interest is added to the principal at the end of each year, and future interest accrues on the new principal.

Accumulated

This term often refers to the total amount of something gathered over time, such as accumulated depreciation or accumulated earnings.