Multiple Choice
Which of the following statements regarding cash equivalents is correct?
A) A one-year Treasury note could not qualify as a cash equivalent.
B) All investments meeting the FASB's criteria for cash equivalents must be reported as such.
C) The date a security is purchased determines its "original maturity" for cash equivalent classification purposes.
D) Once established,management's policy for classifying items as cash equivalents cannot be changed.
Correct Answer:
Verified
Correct Answer:
Verified
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