estion 7 Which of the following is false about Cash Equivalents? yet swered arked out of O a. Cash equivalents are short-term, highly liquid assets that can readily be converted into known amounts of cash and with little risk of price fluctuations. Flag uestion O b. None of these Oc. Cash equivalents are considered as near-cash but are not treated as cash because they can include a penalty to convert back to cash before they mature d. An example of a short-term cash equivalent asset would be one that matures in three months or more from the acquisition date