ITB: Chapter 8-1 Forms of Financial Exchange

ITB: Chapter 8-1 Forms of Financial Exchange

11th Grade

10 Qs

quiz-placeholder

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ITB: Chapter 8-1 Forms of Financial Exchange

ITB: Chapter 8-1 Forms of Financial Exchange

Assessment

Quiz

Business

11th Grade

Hard

Created by

Steve Wills

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most commonly used form of payment?

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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