Optical Character Recognition (OCR) Is a Technology Used Primarily by the Banking Industry

question 99

True/False

Optical character recognition (OCR) is a technology used primarily by the banking industry to facilitate check processing.

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Definitions:

Target Cost

A pricing strategy in which a company sets a cost for a product and works backwards to achieve that cost through design and manufacturing improvements.

Profit Margin

The ratio of operating income to sales.

Markup Percentage

The percentage added to the cost of goods to cover overhead and profit, determining the selling price.

Invested Assets

Assets that are purchased or acquired with the expectation that they will generate income or increase in value over time.