阅读理解：
Are We Headed for the CashlessSociety?
Money is defined by its roles：it serves as a medium of exchange, as a unit of accounting,and as a store of purchasing power.Since our receipts do not always match our expenditures,we generally keep some money in a checking account balance or in our wallets and purses in order to meet expenditures when they occur.
Electronic Banking
Enter electronic banking.In some cities,you do not need to use paper currency and coins or checks in order to make purchases.You can have funds automatically transferred from whom you are purchasing something.The advent of electronic banking has led people to predict the cashless society in the future.Before we answer the question of whether electronic banking will indeed mean that money will no longer exist,let us have a look at electronic banking in more detail.
Part Ⅱ.Reading Comprehension
Passage1
Electronic Funds Transfer System(EFTS)
The official banking term for computer money transferring is the electronic funds transfer system,or EFTS.There are basically three parts to an EFT system ：teller machines.point-of-sale systems,and automated clearinghouses.
Teller machines.Recent EFTS developments have involved teller machines.They are also called customer bank communication terminals or remote service units.They are located either on the bank's premises or in stores such as supermarkets or drugstores.Automated teiler machines receive deposits,dispense funds from checking or savings accounts.make cash advances on credit card accounts,and receive payment.The device is connected onlinetothebank’scomputers.
Point-of-Sale systems.Such systems allow the consumer transfer founds to merchants in order to make purchases.Online terminals are located at check-out in the mercharit's store. When the customer make a punchase.his or her card is inserted into the terminal, which reads the data. encoded on it. The computer at the customer's bank verifies that the card and identification code are valid and that there is enough money in the customer's account. The customer's account is instarntaneously debited, and the merchant’s account credited, for the amount of the purchase.
Automated clearinghouses.Such clearinghouses are similar to ones in use in which checks are cleared between banks. The main difference is that the entries made are in the form of electronic signals 一 there are no checks used. Thus,this is not a system for further automating the handling of paper checks.It is a replacement system. Such systems are especially useful for recurrent payments like payroll Social Security, or pension fund plans that are made every week or every month.
Money StillExists
What does an EFTS and.in particular ,a point-of-sale system do to the money supply? The answer is "nothing".In a cashless,checkless society,you would still need a checking account balance (demand deposits) ON which to draw even though you did not physically write a check. You would have to deposit your paychecks into your account ( or have it done by your employer) at the beginning of each month, just as you might do now. The basic advantage of a cashless, checkless society is that it is a means of reducing the costs associated with exchange.After all,it is estimated that the banking system spends over $7 billion annually just to process 32 billion checks.Will the cashless, checkless society make household budgeting more difficult? Not necessarily.Many expenses each month are fixed,such as car and house payments.Paying them automatically will not alter your spending behavior.Moreover, you would get a statement at the end of each month on your transaction, just as you donow.Since we are all facedwith a budget constraint, using EFTS cannot alter the total amount of income that we are able to spend.The total money supply will not be affected by switching to EFTS,either.To say that in the future we will not use money is an incorrect view of any electronic funds transfer system.Money is here to stay.
One function teller machines can NOT perform is_______.
A、to dispense checks from checking accounts
B、to make cash advances on credit card accounts
C、to receive payments
D、to receive deposits
【正确答案】：A
【题目解析】：teller 出纳，出纳员 ; 出纳机 ; dispense 分配 ; 分发 ; 施与，柜员机不能执行的一个功能是从支票账户中分配支票。