What Are The Advantages Of Cheques Compared To Commodity Money?
List the advantages of using cheques compared to using commodity money.
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asked 2 years ago
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Following are the advantages of using Cheques:
- Cheques are more secure than money because if they are stealed you can immediately inform the bank and stop the transaction.
- They are secure mode of payment in a transaction as if the goods delivered are not satisfactory, you can cancel or stop the payment.
- Post dated Cheques are very beneficial as they are used to ensure that the services or goods are supplied properly.
- Cheques are more secure than money because if they are stealed you can immediately inform the bank and stop the transaction.
- They are secure mode of payment in a transaction as if the goods delivered are not satisfactory, you can cancel or stop the payment.
- Post dated Cheques are very beneficial as they are used to ensure that the services or goods are supplied properly.
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Portability meaning that it can be easily moved from one destination to another in order to carry out transactions.commodity money on the other hand is tedious to transport because of its size and weight making it difficult to carry out transactions.
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