Which of the following statements holds true about MICR?
Statement 1: It shines a light beam onto the input document and writes the information on the cheques using laser beam.
Statement 2: It can recognize only 4 digits and 10 special characters used by the banking industry for the processing of cheques.
AOnly Statement 1
BOnly Statement 2
CBoth Statement 1 and Statement 2
DNeither Statement 1 nor Statement 2
Very bad question!