Open Architecture Is Defined as Allowing Third-Party Software Vendors to Write

question 3

True/False

Open architecture is defined as allowing third-party software vendors to write software to integrate with the main package,such as SAP's R/3.

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Definitions:

Teller's Check

A check drawn by a bank on its own funds and signed by a teller, often used in situations requiring guaranteed funds.

Depository Bank

A financial institution that holds and manages securities and assets on behalf of investors, such as stocks and bonds.

Payor Bank

A bank that is responsible for paying a check or draft presented for payment.

Intermediary Bank

Any bank, other than a payor or depository bank, that transfers a check during the check collection process.