GARBAGE IN, GARBAGE OUT Definition

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GARBAGE IN, GARBAGE OUT (GIGO) is an often used computer and software industry saying meaning that if the data going into a system is suspect, the resulting data output will be suspect.

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ACH is Automated Clearing House.

PERSONAL EQUITY PLAN (PEP) was an investment plan in the U.K. that used to allow people over the age of 18 to invest in shares of U.K. companies. The plan encouraged investment by individuals. Discontinued in 1999, it was replaced by Individual Savings Accounts (ISA). It was done through an approved plan, qualifying unit trust, or investment trust. Investors received both income and capital gains free of tax.

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