Multiple choice technology packaged enterprise solutions

________is a service that commercial banks offer to their corporate customers to auomatically apply receipts via electronic transmission

  1. A. Direct Debit

  2. B. Automatic Clearing

  3. C. Auto Lockbox

  4. D. Electronic Fund Transfer
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Auto Lockbox is the banking service that automatically processes and applies customer receipts via electronic transmission. Banks send payment files containing remittance information, and the Auto Lockbox program automatically applies receipts to open invoices. Direct Debit (A) pulls funds from accounts, Automatic Clearing (B) is not a standard term for this service, and Electronic Fund Transfer (D) is the generic technology but not the specific Oracle Receivables feature name.

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