Cash Equivalents Afriend in your class is confused and asks for your help in understanding cash equivalents:

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Cash Equivalents Afriend in your class is confused and asks for your help in understanding cash equivalents: “Say a company invests $50,000 in a 60-day certificate of deposit. Since the company obviously used cash to buy the CD, why is this not classified as an investing activity on the statement of cash flows?” How would you respond to your friend’s question?

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