Multiple Choice
Which of the following statements regarding cash equivalents is INCORRECT?
A) Cash equivalents are sufficiently similar to cash and thus can be reported along with cash on the balance sheet.
B) Cash equivalents include high-grade U.S.or foreign government securities that are very close to maturity (three months or less at the time of purchase) .
C) Most companies include additional information about cash and cash equivalents in the footnotes to their financial statements.
D) Because cash equivalents are less liquid than cash,they must be reported separately from the Cash account.
Correct Answer:
Verified
Correct Answer:
Verified
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