Instruments of Exchange

Instruments of Exchange

7th Grade

20 Qs

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Instruments of Exchange

Instruments of Exchange

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Created by

Elisha Durand

Used 38+ times

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20 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

An instrument of exchange can be described as anything that enables a transaction to take place.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following pictures best shows the functions of money?

Media Image
Media Image

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are instruments of exchange/payment except

promissory note

debit card

bill of exchange

m-money/mobile money

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

One major difference between the credit card and the debit card is that the credit card is where you use the bank's money and you have to repay it with interest while the debit card is where you use your own money in your savings account.

True

False

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which is the odd one out

Media Image
Media Image
Media Image
Media Image

6.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Which of the following instruments of exchange permits customers to lodge queries or complaints via the telephone?

E-commerce

Electronic Transfer

Tele-banking

Mobile Money

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Businesses can advertise, purchase materials and sell their

products over the internet using which of the following instruments

M-money

E-commerce

Bill of exchange

Telephonic money order

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