Which of the Following Would Be Included in the Definition

question 38

Multiple Choice

Which of the following would be included in the definition of cash and cash equivalents on the cash flow statement?

• A)Short term bonds payable maturing at the end of the year.
• B)Cash on deposit in a foreign country that has restrictions about removing money from the country.
• C)90-day T-Bills.
• D)An amount owed by a customer.They had sent a cheque but the bank returned it due to insufficient funds.

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Definitions:

Genuine Assent

The agreement to enter into a contract based on a clear understanding of its terms, without any duress, fraud, or undue influence.

Undue Influence

An improper or wrongful pressure exerted on a person, resulting in the person acting against their free will or in a manner not reflective of their intent.

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.

Rejection

The refusal to accept an offer or proposal, in the context of contracts, it is the refusal to agree to the terms.