ave and Susan are beginning the audit of Ramsey Inc., a food service firm and food retailer throughout the continental United State ave has been tasked by his supervisor to audit the cash and cash equivalents accounts for the firm, and has asked Susan for guidand what exactly would comprise cash and cash equivalents. Which of the following is Susan's most appropriate response? Cash and cash equivalents represent all of the client's cash accounts plus ancillary items such as commercial paper and treasury bills. Cash and cash equivalents are all the audit clients cash accounts, regardless of which bank they are on deposit at. Cash and cash equivalents represent all cash accounts held by the client, as well as highly liquid investments and loans held by the client. Cash and cash equivalents are all of the attest client's bank accounts, plus money market funds and bonds