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Commerce Exam  >  Commerce Questions  >  the payment mechanism typical to e-businessa)... Start Learning for Free
the payment mechanism typical to e-business
  • a)
    e-Cash
  • b)
    Cash on Delivery (CoD)
  • c)
    Credit and Debit Cards
  • d)
    Cheques
Correct answer is option 'A'. Can you explain this answer?
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the payment mechanism typical to e-businessa)e-Cashb)Cash on Delivery ...
In e-business, security concerns include data theft and hacking, which can compromise sensitive information exchanged online.
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the payment mechanism typical to e-businessa)e-Cashb)Cash on Delivery ...
As in ebusiness all is the digital working
so for digital working the money required is also digital
so digital money is also called e cash
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the payment mechanism typical to e-businessa)e-Cashb)Cash on Delivery ...
Understanding e-Cash in E-Business
E-business encompasses various transactions conducted online. Among these, e-cash stands out as a typical payment mechanism.
What is e-Cash?
- E-cash, or electronic cash, represents a digital form of currency.
- It allows users to make transactions over the internet seamlessly.
- E-cash is designed to mimic physical cash transactions but in a digital format.
Advantages of e-Cash
- Convenience: Transactions are completed quickly without the need for physical cash or checks.
- Security: E-cash systems often use cryptographic methods to secure transactions, reducing the risk of fraud.
- Anonymity: Users can transact without revealing personal information, similar to cash transactions.
Comparison with Other Payment Methods
- Cash on Delivery (CoD): While popular, CoD requires physical interaction between the buyer and seller, making it less efficient for e-business.
- Credit and Debit Cards: These are widely used but involve sharing sensitive information, which can lead to security concerns.
- Cheques: They are slower and less convenient compared to instantaneous e-cash transactions.
Conclusion
E-cash represents a modern solution for online payments, streamlining the purchasing process in e-business environments. Its advantages of convenience, security, and anonymity make it a preferred choice for customers and businesses alike.
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Study the following hypothetical transactional detail of Mr. Keshav and answer the given questions:On 31st March, 2019 the bank column of the Cash Book of Mr. Keshav disclosed an overdraft balance of ₹8,300. On examining the cash book and bank statement you find that:• Cheques were deposited into the bank for ₹16,000 but of these cheques for ₹4,600 were cleared and credited in April 2015.• Cheques were issued for ₹7,500 out of which cheques for ₹6,000 had been presented for payment in March 2019.• In March Mr. Keshav had discounted with a bank a bill of exchange for ₹10,000 and had entered this amount in the Cash Book, but the proceeds credited as shown by the Passbook, amounted to ₹9,600.• No entry is made in the Cash Book of an amount of ₹6,100 directly deposited by a customer in the bank accounts.• Bank Column of the payment side of the Cash Book was undercast by ₹1,000.• Payment of Insurance premium of ₹2,000 and receipt of insurance claim of ₹8,000 appear in the Passbook but not entered in the Cash Book.• A cheque for ₹3,500 issued to Mr. Kapil was omitted to be recorded in the Cash Book.• A cheque for ₹2,800 issued to Mr. Darshan was entered in the cash column of the Cash Book.The amount not entered in the cash book as it was directly deposited in the bank by a customer will be recorded as a ________ item in the bank reconciliation statement.

Study the following hypothetical transactional detail of Mr. Keshav and answer the given questions:On 31st March, 2019 the bank column of the Cash Book of Mr. Keshav disclosed an overdraft balance of ₹8,300. On examining the cash book and bank statement you find that:• Cheques were deposited into the bank for ₹16,000 but of these cheques for ₹4,600 were cleared and credited in April 2015.• Cheques were issued for ₹7,500 out of which cheques for ₹6,000 had been presented for payment in March 2019.• In March Mr. Keshav had discounted with a bank a bill of exchange for ₹10,000 and had entered this amount in the Cash Book, but the proceeds credited as shown by the Passbook, amounted to ₹9,600.• No entry is made in the Cash Book of an amount of ₹6,100 directly deposited by a customer in the bank accounts.• Bank Column of the payment side of the Cash Book was undercast by ₹1,000.• Payment of Insurance premium of ₹2,000 and receipt of insurance claim of ₹8,000 appear in the Passbook but not entered in the Cash Book.• A cheque for ₹3,500 issued to Mr. Kapil was omitted to be recorded in the Cash Book.• A cheque for ₹2,800 issued to Mr. Darshan was entered in the cash column of the Cash Book.Which of the following amount will be shown in the plus item column of the bank reconciliation statement with regard to the cheques that were issued but not presented to the bank?

Study the following hypothetical transactional detail of Mr. Keshav and answer the given questions:On 31st March, 2019 the bank column of the Cash Book of Mr. Keshav disclosed an overdraft balance of ₹8,300. On examining the cash book and bank statement you find that:• Cheques were deposited into the bank for ₹16,000 but of these cheques for ₹4,600 were cleared and credited in April 2015.• Cheques were issued for ₹7,500 out of which cheques for ₹6,000 had been presented for payment in March 2019.• In March Mr. Keshav had discounted with a bank a bill of exchange for ₹10,000 and had entered this amount in the Cash Book, but the proceeds credited as shown by the Passbook, amounted to ₹9,600.• No entry is made in the Cash Book of an amount of ₹6,100 directly deposited by a customer in the bank accounts.• Bank Column of the payment side of the Cash Book was undercast by ₹1,000.• Payment of Insurance premium of ₹2,000 and receipt of insurance claim of ₹8,000 appear in the Passbook but not entered in the Cash Book.• A cheque for ₹3,500 issued to Mr. Kapil was omitted to be recorded in the Cash Book.• A cheque for ₹2,800 issued to Mr. Darshan was entered in the cash column of the Cash Book.The amount of cheque not credited until April 2015 will be recorded as a _______ item in the bank reconciliation statement.

Study the following hypothetical transactional detail of Mr. Keshav and answer the given questions:On 31st March, 2019 the bank column of the Cash Book of Mr. Keshav disclosed an overdraft balance of ₹8,300. On examining the cash book and bank statement you find that:• Cheques were deposited into the bank for ₹16,000 but of these cheques for ₹4,600 were cleared and credited in April 2015.• Cheques were issued for ₹7,500 out of which cheques for ₹6,000 had been presented for payment in March 2019.• In March Mr. Keshav had discounted with a bank a bill of exchange for ₹10,000 and had entered this amount in the Cash Book, but the proceeds credited as shown by the Passbook, amounted to ₹9,600.• No entry is made in the Cash Book of an amount of ₹6,100 directly deposited by a customer in the bank accounts.• Bank Column of the payment side of the Cash Book was undercast by ₹1,000.• Payment of Insurance premium of ₹2,000 and receipt of insurance claim of ₹8,000 appear in the Passbook but not entered in the Cash Book.• A cheque for ₹3,500 issued to Mr. Kapil was omitted to be recorded in the Cash Book.• A cheque for ₹2,800 issued to Mr. Darshan was entered in the cash column of the Cash Book.Where will the payment of insurance premium be recorded?

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the payment mechanism typical to e-businessa)e-Cashb)Cash on Delivery (CoD)c)Credit and Debit Cardsd)ChequesCorrect answer is option 'A'. Can you explain this answer?
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