What is the accounting definition of cash or cash equivalents?
Question:
What is the accounting definition of cash or cash equivalents?
Assets
Assets are items owned and controlled by a company which are primarily used for the company's operation and administration, which are expected to provide future economic benefits. Assets can be classified as current or non-current.
Answer and Explanation: 1
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View this answerCash includes coins and currencies on hand and on bank. Cash equivalents are short-term and highly liquid investments with maturity date of three...
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Chapter 3 / Lesson 8What are current assets on a balance sheet? Learn the definition of an asset and see current assets examples. Compare current assets to noncurrent assets.