Compared to an Electronic Payments System, a Payments System Based

question 102

Multiple Choice

Compared to an electronic payments system, a payments system based on cheques has the major drawback that ________.

• A) cheques are less costly to process
• B) cheques 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) legal liability is more clearly defined

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