For financial reporting purposes, cash generally includes currency and other items that are payable on demand, such as checks, money orders, bank drafts, and certain savings accounts.
Answer the following statement true (T) or false (F)
True
For financial reporting purposes, cash generally includes currency and other items that are payable on demand, such as checks, money orders, bank drafts, and certain savings accounts. Savings accounts that impose substantial penalties for early withdrawal should be classified as investments rather than cash.
You might also like to view...
Explain the “figure-ground principle.”
What will be an ideal response?
An attractive niche consists of customers having a distinct set of needs
Indicate whether the statement is true or false
Describe the four components of the OUCH test and identify when it is useful in an organizational setting.
What will be an ideal response?
A person who has a high score on the life regard measures will likely hold which of the following beliefs?
a. One must hold in high regard the lives and well-being of others. b. His or her own life is more important than the lives of other people and that he or she must seek to take care of self first. c. The happiness of every person is equally important as the happiness of every other person. d. This person is living in a way that keeps them fulfilled and that their life has meaning to him or her.