Despite Its Efficiency, MICR Has Created Several Problems Which Include

question 29

Multiple Choice

Despite its efficiency, MICR has created several problems which include:

• A)paying a postdated instrument prior to its date.
• B)customers miscoding checks.
• C)Both of the above.
• D)Neither of the above.

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been subtracted from revenue.

Cash Dividend

A payment made by a corporation to its shareholders, usually in the form of cash, out of its profits.

Free Cash Flow

The cash that a company generates after accounting for cash outflows to support operations and maintain its capital assets.

Net Income

The total earnings of a company after subtracting all expenses from revenue, including taxes and interest.