2017 April No.71 – Practical Exercise


71. In Block 2 on the Entry summary, what does ABI/N/L mean?

A. Statement paid by check or cash

B. Statement paid on a periodic monthly basis

C. Summary not paid on statement

D. “Live” entry/entry summary not paid on statement

E. Statement paid via ACH for a “live” entry/entry summary

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The Answer is: D

Citation: Prep of 7501 instructions

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