MICR is an input technology used:
A)on receipts and invoices that are given to customers.
B)on bank cheques.
C)in the processing of ATM receipts.
D)by many organisations to expedite the processing of accounts payable invoices.

Question

Quizplus · Accepted Answer

MICR (Magnetic Ink Character Recognition) is a technology used for processing checks in the banking industry. The characters on the bottom of a check are printed in magnetic ink, allowing for faster and more accurate processing through high-speed sorting machines. MICR technology is not typically used for receipts, invoices or ATM receipts, although it may be used by some organizations to process accounts payable invoices.

MICR Is an Input Technology Used