Magnetic Ink Character Recognition Technology Codes Data on the Bottom

question 16

True/False

Magnetic ink character recognition technology codes data on the bottom of a check or other form using special magnetic ink, which is readable by people and computers.

---

Definitions:

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and has its own rights, privileges, and liabilities.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, giving them a right to a portion of the corporation's profits.

Syndicate

A group of individuals or organizations that come together to share or participate in a specific financial transaction or investment.

Investment Group

A collection of individuals or entities that pool their capital together to invest in various projects or assets, often guided by a common investment strategy.