Compared to an electronic payments system,a payments system based on checks has the major drawback that
A)checks are less costly to process.
B)checks 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 payments system based on checks requires physical transport of the check to the bank, processing time, and clearance before the depositor can access funds. This process takes longer compared to an electronic payments system, where transactions are processed and settled almost instantly.

Compared to an Electronic Payments System,a Payments System Based on Checks