Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 7 - Cash and Receivables - Review and Practice - Questions - Page 362: 1


Under cash, we usually have notes and coins in and, at bank and close to money orders such as checkups, demand bills of exchange, money orders, as well as bank drafts. Moreover, balances subject to immediate withdrawal are also listed under cash as well as money market funds that provide checking account privileges.

Work Step by Step

However, it should also be noted that there are questions on whether certain deposits such as time deposits and savings account should be included here due to the lack of convenience in converting to cash, should a need arise.
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