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Questions and Answers
Which of the following best describes a cashless society?
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?
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?
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'?
What does it mean when it is said that a cashless society is 'on its way'?
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What is one weakness of a cashless society?
What is one weakness of a cashless society?
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Which of the following is NOT an advantage of a cashless society?
Which of the following is NOT an advantage of a cashless society?
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What is one disadvantage of a cashless society?
What is one disadvantage of a cashless society?
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Why is carrying cash considered risky in terms of crime?
Why is carrying cash considered risky in terms of crime?
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What is one reason why a cashless society is considered 'on its way'?
What is one reason why a cashless society is considered 'on its way'?
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What is one advantage of a cashless society in terms of financial record-keeping?
What is one advantage of a cashless society in terms of financial record-keeping?
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