What is the most commonly used form of payment?
ITB: Chapter 8-1 Forms of Financial Exchange

Quiz
•
Business
•
11th Grade
•
Hard

Steve Wills
Used 4+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cash
Credit card
I.O.U.
Debit card
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of using cash as a form of payment?
Legally endorsed
Accepted everywhere
Easy to use
Not easily stolen
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main disadvantage of using cash as a form of payment?
Easily stolen
Legally endorsed
Easy to use
Accepted everywhere
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a check?
A form of payment that is dated and signed by the payor
A plastic card used for electronic payments
A form of payment deducted directly from the bank account
A legally endorsed coins and paper currency
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the preferred method of payment for most retail transactions?
Check
Cash
Credit card
Debit card
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main advantage of using a credit card?
Convenience
Overspending
Grace period
High interest rates
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main disadvantage of using a credit card?
Convenience
Overspending
High interest rates
Grace period
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