7
practice testMultiple Choice

Practice Test

Question 7 • Personal Finance

How are online banking and E-checks similar?

Answer
A
Both move money electronically without using cash or checks.
B
Both are not secure so transactions are recorded on a physical ledger.
C
Both use the same banking systems as regular checks.
D
Both need customers to go to a physical place to finish a transaction.

Explanation

Online banking and E-checks both let people transfer or pay money electronically, without handing over cash or writing and delivering a paper check. They differ in how the transaction is initiated, but both are digital methods of moving money. So the correct choice is “Both move money electronically without using cash or checks.”

AI-written and checked against the verified answer.

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