Match each term with its definition.
-Numbers printed on the check in magnetic ink that contain the routing (ABA)number
A)deposit record
B)deposit slip
C)electronic funds transfer system
D)endorsement
E)endorser
F)third-party check
G)limited check
H)maker
I)MICR numbers
J)money order

Question

Quizplus · Accepted Answer

MICR numbers, which stand for Magnetic Ink Character Recognition numbers, are used on checks to facilitate the processing and clearance of checks. These numbers include the bank's routing number and the account number from which the check is drawn, allowing for efficient and accurate electronic processing of checks.

Match Each Term with Its Definition