Understanding Payment Types
Passage
•
Social Studies
•
12th Grade
•
Medium

DAVID BRYANT
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a payment?
Transfer of money, goods, or services
Exchange of only goods
Transfer of only services
Exchange of only money
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Currency provides a convenient medium through which payments can be made and can also be easily ______.
Lost
Stolen
Stored
Ignored
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one advantage of using credit cards?
Build a credit history
Immediate fund withdrawal
No processing fees
High interest rates
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common fee associated with credit card transactions?
Flat fee
No fee
Low interest
High rewards
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which payment method is widely accepted by many merchants?
Credit cards
Cash only
Checks
Cryptocurrency
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debit cards typically don't have _______ as long as you have money in your account.
annual fees
overdraft protection
credit score benefits
fraud protection
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debit cards don't charge interest since all payments are facilitated using _______.
the bank's money
the spender's money
credit
loans
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