Why is there more risk for a business when it accepts checks than debit cards?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0AChecks are paper and debit cards are plastic.%0D%0A%0D%0AChecks are paper and debit cards are plastic.%0D%0A%0D%0ADebit cards are FDIC insured and checks are not.%0D%0A%0D%0ADebit cards are FDIC insured and checks are not.%0D%0A%0D%0AThere is a limit on the amount for checks, not debit cards.%0D%0A%0D%0AThere is a limit on the amount for checks, not debit cards.%0D%0A%0D%0AA debit card is approved electronically while checks are not
.%0D%0A%0D%0AThe main reason there is more risk for a business when accepting checks compared to debit cards is because checks can bounce if there are insufficient funds in the customer's account. This can result in potential losses for the business if the check is returned unpaid. Debit cards, on the other hand, are electronically approved at the time of purchase, ensuring that the funds are available before the transaction is completed. This significantly reduces the risk of payment disputes or insufficient funds compared to checks.
