RAM: Volatile memory, Used when running software, Temporary data storage, Can be upgraded, Fast speed, Stores open documents, ROM: Non-volatile memory, Stores BIOS/firmware, Permanent storage, Runs startup instructions, Usually not writeable, Used in embedded systems, Incorrect Statements: Stores files when the computer is turned off, Stores the operating system permanently, Data is saved in RAM after shutdown, ROM is faster than RAM, ROM is used to run multiple applications,

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