The payment mechanism typical to e-business

(a) cash on delivery (CoD)

(b) cheques

(c) credit and debit cards

(d) e-cash

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Solution

The payment mechanism that is typical to e-business is e-cash. The other payment mechanisms mentioned—CoD, cheques, and credit or debit cards—are used for transactions in traditional modes of business as well as in e-business. However, e-cash payment can be made only in the case of online transactions and cannot be used in traditional modes of business.

Hence, the correct answer is option (d).

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Q. On 31st December, 2014, pass book shows debit balance of ₹ 7,500. From the following particulars, prepare a Bank Reconciliation Statement:
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Q. Select the proper option from the options given below and rewrite the completed sentence:

In e-business payments have to be made ________.
(a) in cash
(b) on credit
(c) online

State whether the following statements are TRUE or FALSE :

1. Total of payments side can be greater than total of receipts side in case of bank column.
2. Purchase of asset or stationery on credit is recorded in purchase book.
3. When goods are returned by buyer to seller, buyer sends a debit note.
4. Cheque received and deposited into bank on the same day is a contra entry.
5. Simple petty cash book is not very popular.
6. Interest on overdraft charged by bank is recorded in the cash column.
7. It is not necessary to record dishonor of cheques in the cash book.
8. Cheque book facility is available for fixed deposit account.
9. Businessman generally operates savings bank account.
10. A cash book is both a journal as well as ledger.
11. Cash book is a book of original entry.
12. Cash discount allowed is recorded on the debit side of cash book
13. Credit transactions are never recorded in cash book.
14. Endorsed cheques are always recorded on the payment side in the bank column.
15. A person who endorses the cheque is known as endorser.

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The payment mechanism typical to e-business (a) cash on delivery (CoD) (b) cheques (c) credit and debit cards (d) e-cash

The payment mechanism typical to e-business

(a) cash on delivery (CoD)

(b) cheques

(c) credit and debit cards

(d) e-cash