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22 Jan 2024, 09:38
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Hi guys, could anyone please provide detailed explaination for this CR question ?
Banking - industry analysts have been predicting the end of the paper checks as a method of making payments, now that electronic transfer of funds from one bank account to another is becoming increasingly common. To process paper checks, banks rely on companies that charge a significant amount for each check they process. Therefore, banks would be well advised to encourage the replacement of paper checkcs with electronic transfers as the standard method of payment.
Which of the following, if true, most seriously weakens the argument?
A. Even consumers who currently make use of electronic transfers to pay their regularly recurring bills still commonly use paper checks to make payments for occasional purchases.
B. Some consumer checking accounts pay the account holder interest on checking account balances.
C. Government agencies that make regular payments to individuals are increasingly requiring that the people to whom they make such payments receive the funds by requiring that the people to whom they make such payments receive the funds by electronic transfer into a bank account.
D. Banks are able to charge their customers substantial fees for many of the services associated with paper-check transactions.
E. The number of paper-check transactions has decreased only somewhat even though electronic fund transfers have become more common.
The answer is D. I wonder why it’s not A.
Banking - industry analysts have been predicting the end of the paper checks as a method of making payments, now that electronic transfer of funds from one bank account to another is becoming increasingly common. To process paper checks, banks rely on companies that charge a significant amount for each check they process. Therefore, banks would be well advised to encourage the replacement of paper checkcs with electronic transfers as the standard method of payment.
Which of the following, if true, most seriously weakens the argument?
A. Even consumers who currently make use of electronic transfers to pay their regularly recurring bills still commonly use paper checks to make payments for occasional purchases.
B. Some consumer checking accounts pay the account holder interest on checking account balances.
C. Government agencies that make regular payments to individuals are increasingly requiring that the people to whom they make such payments receive the funds by requiring that the people to whom they make such payments receive the funds by electronic transfer into a bank account.
D. Banks are able to charge their customers substantial fees for many of the services associated with paper-check transactions.
E. The number of paper-check transactions has decreased only somewhat even though electronic fund transfers have become more common.
The answer is D. I wonder why it’s not A.
22 Jan 2024, 09:56
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The argument goes something like : Banks should encourage replacement of paper checks since they entail significant cost. This kind of tells me cost of paper checks is a big factor why they should be replaced by electronic transfer.
D says Hey, banks are able to charge consumers for the paper checks; suggesting banks are able to pass on the cost to the consumers; hence weakening the argument that ’significant cost’ is not a big factor why it should be replaced
Makes sense?
Intuitively on first glance, even I picked A. But A kind of says hey look since paper checks are still commonly used for occasional purchases they shouldn’t be replaced...but what if some other factor can contribute to people switching from paper checks to electronic transfer?
D says Hey, banks are able to charge consumers for the paper checks; suggesting banks are able to pass on the cost to the consumers; hence weakening the argument that ’significant cost’ is not a big factor why it should be replaced
Makes sense?
Intuitively on first glance, even I picked A. But A kind of says hey look since paper checks are still commonly used for occasional purchases they shouldn’t be replaced...but what if some other factor can contribute to people switching from paper checks to electronic transfer?
22 Jan 2024, 19:49
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chiplesschap, I get it now, thank you so much
