Over several hundred years, payments systems used incountries across the world have evolved. For each of the following situations identify the type of payment utilizedand at least one reason why economies are moving fromchecks to electronic payments.a. Sheila visits a local grocery store to purchase a dozeneggs and a bag of dog food. She uses a €100 note topay for the goods.b. Rachael Garcia, a manager at Proxall Pharmacy, useda piece of gold worth $20 to pay for office suppliesshe needed this month.c. Edward has just moved to the city to be closer tohis office. He was shopping online for some piecesof furniture and he bought a wardrobe and a tablelamp. He used a checking account to initiate anautomatic bill payment for the items

Over several hundred years, payments systems used incountries across the world have evolved. For each of the following situations identify the type of payment utilizedand at least one reason why economies are moving fromchecks to electronic payments.a. Sheila visits a local grocery store to purchase a dozeneggs and a bag of dog food. She uses a €100 note topay for the goods.b. Rachael Garcia, a manager at Proxall Pharmacy, useda piece of gold worth $20 to pay for office suppliesshe needed this month.c. Edward has just moved to the city to be closer tohis office. He was shopping online for some piecesof furniture and he bought a wardrobe and a tablelamp. He used a checking account to initiate anautomatic bill payment for the items

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 12P

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