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Describe the types of assets that are typically included under the heading cash and cash equivalents on the balance sheet. What is a cash equivalent?
Describe the types of assets that are typically included under the heading "cash and cash equivalents" on the balance sheet. What is a "cash equivalent"?
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Cash and cash equivalents" includes
all assets that will be converted to cash within one year
such as
accounts receivables and inventories
Besides cash, all of these listed are considered to be "cash equivalents"
can easily be converted to cash within months or less at the time of purchase
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