Multiple choice general knowledge

Which of the following is known as plastic money?

  1. bearer cheques

  2. credit cards

  3. demand drafts

  4. gift cheques
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Credit cards are commonly called 'plastic money' because they are made of plastic and enable cashless transactions for purchases. Bearer cheques, demand drafts, and gift cheques are paper-based negotiable instruments, not plastic. Credit cards allow users to borrow funds up to a predetermined credit limit and repay later, making them a convenient alternative to cash.

Keep practicing — related questions