blem #10 of 23 The credit balance in Cash Short and Over at the end of an accounting period is reported as a. a liability on the balance sheet. b. an asset on the balance sheet. c. income on the income statement. d. an expense on the income statement. lem #12 of 23 Cash equivalents by definition a. are expected to be converted to cash within three months. ob. are a comparison of cash and liabilities. c. will be converted to cash within one year. d. are long-term investments. blem #15 of 23 Cash equivalents include a. money market funds. b. commercial paper. c. U.S. Treasury bills. d. All of these choices are correct