Which of the following is correct regarding credit cards?
A) They are a store of value.
B) They are not a money substitute.
C) They are a permanent medium of exchange.
D) They are becoming more important but are still not a major factor in the purchase of consumer goods.
E) They are often referred to as "plastic money."

Question

Quizplus · Accepted Answer

Credit cards are commonly referred to as "plastic money" because they serve as a convenient substitute for cash or checks, allowing for the purchase of goods and services on credit.

Which of the Following Is Correct Regarding Credit Cards