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Is a Cashless World the Future?
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Is a Cashless World the Future?

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Questions and Answers

Which of the following best describes a cashless society?

  • A society where paper and coin currencies are used for all transactions
  • A society where financial transactions are conducted with the use of debit or credit cards only
  • A society where financial transactions are conducted without the use of cash (correct)
  • A society where all financial transactions are conducted electronically

    • What is one advantage of a cashless society?

  • Limited financial options
  • Inability to track money or prove ownership
  • Increased convenience for people (correct)
  • Higher crime rates

    • Why are crime rates lower in a cashless society?

  • Tracking money and proving ownership is easier in a cashless society
  • Carrying cash makes people a high-value target for thieves (correct)
  • There are no financial transactions in a cashless society
  • Cashless transactions are more expensive

    • What does it mean when it is said that a cashless society is 'on its way'?

    <p>It is becoming a reality</p> Signup and view all the answers

    What is one weakness of a cashless society?

    <p>Inability to track money or prove ownership</p> Signup and view all the answers

    Which of the following is NOT an advantage of a cashless society?

    <p>Ease of tracking transactions</p> Signup and view all the answers

    What is one disadvantage of a cashless society?

    <p>Lack of privacy</p> Signup and view all the answers

    Why is carrying cash considered risky in terms of crime?

    <p>It makes people a target for thieves</p> Signup and view all the answers

    What is one reason why a cashless society is considered 'on its way'?

    <p>Advancements in technology</p> Signup and view all the answers

    What is one advantage of a cashless society in terms of financial record-keeping?

    <p>Easy access to transaction history</p> Signup and view all the answers

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