Asked by Nathan Ayers on May 04, 2024
Verified
Most (75%) of the financial transactions are through the use of
A) electronic fund transfers.
B) credit cards.
C) checks.
D) cash.
Financial Transactions
Operations involving the transfer of funds or ownership of financial assets between parties, such as payments, investments, and loans.
Electronic Fund Transfers
The transfer of money from one bank account to another, electronically, without the need for physical exchange of money.
- Absorb the details and roles of the money supply (M1, M2, M3) structure.
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
A
Explanation :
Electronic fund transfers have become the most popular and convenient method of financial transactions, accounting for 75% of all transactions. This can be attributed to factors such as speed, convenience, and security that e-transfers provide compared to traditional payment methods such as checks and cash. While credit cards are also widely used, they represent a smaller percentage of transactions compared to electronic fund transfers.
Learning Objectives
- Absorb the details and roles of the money supply (M1, M2, M3) structure.