FINANCIAL SYSTEM Definition

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FINANCIAL SYSTEM is an information system, comprised of one or more applications, that is used for any of the following: collecting, processing, maintaining, transmitting, and reporting data about financial events; supporting financial planning or budgeting activities; accumulating and reporting cost information; or supporting the preparation of financial statements.

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NOMINAL means small payment, or value.

UNFUNDED COMMITMENT is, as of any date of determination, the sum of legally binding calls upon current or future assets to where the assets or sums have not been identified or set aside to satisfy the commitment.

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