Which of the following sequences accurately describes the evolution of the payments system?
A) Barter, coins made of precious metals, paper currency, checks, electronic funds transfers
B) Barter, coins made of precious metals, checks, paper currency, electronic funds transfers
C) Barter, checks, paper currency, coins made of precious metals, electronic funds transfers
D) Barter, checks, paper currency, electronic funds transfers

Question

Quizplus · Accepted Answer

This sequence accurately describes the evolution of the payments system. Barter was the initial method of exchange followed by the use of coins made of precious metals. This was later replaced by paper currency and then checks, and finally electronic funds transfers.

Which of the Following Sequences Accurately Describes the Evolution of the Payments