Which of the following is an advantage of using cheques for transactions?

JAMB Commerce 2024 137 views
Source: JAMB · 2024

Which of the following is an advantage of using cheques for transactions?

  1. Immediate cash withdrawal
  2. Reduced risk of theft ✓
  3. No need for a bank account
  4. Higher transaction fees
Explanation

Cheques are safer than carrying cash. If lost, you can stop payment on them.

Cash cannot be recovered if stolen. Cheques can be canceled before they are cashed.

You do need a bank account to write cheques, and there can be fees.

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