COMPARED TO AN EFTS SYSTEM, A PAYMENTS SYSTEM BASED ON CHECKS HAS...

106) - TEST BANK CHAPTER 3 WHAT IS MONEY? TÀI CHÍNH TIỀN TỆ
TEST BANK CHAPTER 3 WHAT IS MONEY? TÀI CHÍNH TIỀN TỆ

106) Compared to an EFTS system, a payments system based on checks has the major drawback that

(a) checks are more costly to process.

(b) checks take longer to process, meaning that it may take several days before the depositor can get

her cash.

(c) fraud may be more difficult to commit when paper receipts are eliminated.

(d) all of the above.

(e) both (a) and (b) of the above.

Answer: E