If Your Data Is Electronically or Digitally Stored You Should

question 50

Multiple Choice

If your data is electronically or digitally stored you should:

• A)Keep it on a memory stick.
• B)Keep it on a DVD.
• C)Make copies of the file.
• D)Keep it locked away.

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Definitions:

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure repayment of a debt or performance of some other obligation.

Priority

The status of being regarded or treated as more important than other matters.

Purchase Money Security Interest

A security interest that is (1) taken or retained by the seller of collateral to secure all or part of its purchase price or (2) taken by a debtor to acquire rights in or the use of the collateral if the value is so used.

Inventory Collateral

Assets from a company's inventory that are pledged to secure a loan.