MAGNETIC INK CHARACTER RECOGNITION LINE - MICR
A character-recognition technology used mainly by banking industry for processing and clearance of cheques and other documents. The information can be found at the bottom of a check along with the bank’s routing number, customer’s account number, and check number. MICR (often pronounced micker) are printed with a magnetic ink or toner, normally in one of its two major fonts, E-13B and CMC-7. The magnetic inks allows the computer to read the printed information even if have been covered with signatures, cancellation marks, or other-related marks.
POPULAR TERMS
BWP - Botswana Pula
Currency abbreviation for the Botswana Pula, the official currency of the Republic of Botswana. Presented with the symbol P, the currency is subdiv ...
SOS
SOS is the abbreviation for the currency in the Republic of Somaliland that is the Somaliland shilling.
Delinquent
Term when someone can’t accomplish the payment that is required by law or in duty or in simple words, failure to make payments on time. A del ...
Overnight Position
A trading position that is not closed at the end of the trading day and is held overnight. In trading securities, overnight positions expose invest ...
Expunge
Action destroying any AUTEX indication record. Removing an indication will permanently delete a trail of an investor’s advertisement for a bl ...
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SEE FOREX TUTORIAL
Principles of Trading: Risk Management
It is imperative for traders to master risk management, which includes knowing how much you could lose per trade or over time and evaluating the pe ...
Principles of Trading: Well Known Trading Instruments
Traders look at two primary factors when choosing the instruments they desire to trade: liquidity and volatility. Liquidity is the extent to which ...
Buying a Home: Looking for an Agent
You will need to find an agent if you want to purchase your dream house. These agents are the only ones who have access to lock box codes, which ar ...
Digesting Financial Statements: Long-Lasting Assets
Long-lived assets, also known as non-current assets, is any asset a company expects to keep for at least one year. Such assets are expected to boos ...
Buying a Home: Finding the Best House
Nothing can stop you from looking for the home of your dreams. Even though you have no agent, you can do your own diligence. Drive around neighborh ...
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