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Write simple explanation on the following CONCEPTS 1 What is financial instrument? 2 What is financial asset ? 3 What is financial liability? 4 What

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CONCEPTS 1 What is financial instrument? 2 What is financial asset ? 3 What is financial liability? 4 What is cash? 5 What is unrestricted cash? 6 What is cash equivalent? 7 Explain the valuation of cash in the financial statements 8 What is bank overdraft? 9 What is compensating balance? 10 What is the meaning of undelivered check? Post dated check and stale check? 11 Explain window dressing, lapping and kiting 12 Explain the imprest system 13 What is bank reconciliation? 14 What are bank and book reconciling items? Explain each. 15 what is proof of cash

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