Font size
WorksheetsInstruments of Payment
Total questions: 20
Worksheet time: 13mins
Which of the following instruments of exchange permits customers to lodge queries or complaints via the telephone?
E-commerce
Electronic Transfer
Tele-banking
Mobile Money
Businesses can advertise, purchase materials and sell their
products over the internet using which of the following instruments
M-money
E-commerce
Bill of exchange
Telephonic money order
This machine can be used to make payments to merchants with both your debit and credit card.
True
False
Credit is making payments before receiving the item.
True
False
A Manager's Cheque is also known as a
(a)
The person sending the Bill of Exchange is called the (a) .
Businesses are able to compete with other businesses by engaging in E-commerce.
True
False
A CREDIT CARD is used to make payments electronically with funds from your own bank account.
False
True
The Debit Card is used to make purchases online.
False
True
The abbreviation ATM located at the top of this machine stands for _________ _________ ________ .
(a)
A cheque drawn on a bank and not on the customer is referred to as a
Bank Draft
Bill of Exchange
Cheque
This is usually used by persons who are selling goods to others in another country __________ ______ ______________ .
(a)
This instrument of payment is usually prepared by the post office and not the bank
Cheque
Bill of exchange
Bank Draft
Money order
Select the statements which are true about the Credit Card
It is a loan from the bank to the card holder
It can be used for local payments only
There is a bill to be paid at the end of the month
It is used for online payments and shopping
Purchases can be made using your smartwatch, tablet, or smartphone using this instrument
E-commerce
Mobile wallet
Credit card
Debit card
This instrument notifies the buyer that a specific sum of money is due to the seller at a specific time in the future
Tele-banking
Bank draft
Bill of exchange
Cheque
Cheques must have the following;
sum on money in words and figures
Date the cheque is to be cashed
Signature of the person writing the cheque
Date the cheque was written
purpose the cheque was written
___________ ____________ are the movement of money from one bank to another bank.
(a)
Which card is normally used to withdraw money from a person's personal account ?
Debit card
Credit Card
The card pictured here is a
Debit Card
Credit Card
