Question

which of the following are typically advantages of using cash?
□ easy to use online
□ keep spending within your means
□ protect your identity
□ no transaction fees
□ more traceable than a check
□ none of the above

Explanation:

• "Easy to use online": Cash is not easy to use for online transactions as most online payments require digital methods like cards or e - wallets. So this is not an advantage.
• "Keep spending within your means": When using cash, you can only spend the physical money you have, which helps in controlling spending and keeping it within your financial capacity. This is an advantage.
• "Protect your identity": Since cash transactions don't involve sharing personal or financial information (like card numbers) that could be used for identity theft, it helps protect your identity. This is an advantage.
• "No transaction fees": Unlike some digital payment methods (e.g., some credit card transactions, peer - to - peer payment apps may have fees in certain cases), cash transactions generally do not have transaction fees. This is an advantage.
• "More traceable than a check": Checks have a clear paper trail with details like the payee, amount, and drawer's information, while cash transactions are more anonymous and less traceable. So this is not an advantage.
• "None of the above": Since there are valid advantages among the options, this is incorrect.

Answer:

• Keep spending within your means
• Protect your identity
• No transaction fees