Describe an ATM Switched Virtual Circuit (ATM SVC)

question 7

Essay

Describe an ATM switched virtual circuit (ATM SVC).

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Definitions:

Internal Control System

A set of procedures and mechanisms implemented by a business to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Cash Receipts

The collection of money, typically in the form of cash or checks, received by a business during its operating activities.

Cash Payments

Transactions involving the outflow of cash to settle obligations or purchase goods and services.

Control Environment

The overall attitude of management and employees about the importance of controls.