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

Question

Quizplus · Accepted Answer

A cheque-based payments system takes longer to process as it requires physical movement of paper documents and manual processing, resulting in delays before the depositor can access funds. Electronic payments, on the other hand, are processed instantly and are much faster.

Compared to an Electronic Payments System, a Payments System Based