Consider the Following: Cash in Bank - Checking Account of $13,500

question 88

Multiple Choice

Consider the following: Cash in Bank - checking account of $13,500, Cash on hand of $500, Post-dated checks received totaling $3,500, and Certificates of deposit totaling $124,000.How much should be reported as cash in the statement of financial position?

• A)$ 13,500.
• B)$ 14,000.
• C)$ 17,500.
• D)$131,500.

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Definitions:

International Monetary Fund

An international organization established in 1944 to promote global monetary cooperation, secure financial stability, and facilitate international trade.

International Banking Institution

A financial entity operating across national borders, dealing in currency exchange, foreign investment, and international loans.

Government Financing Institution

A state-owned or government-backed entity that provides financial services, including loans and guarantees, to support economic development.

Commercial Letter

a written document used in business transactions, often to communicate formally between companies or organizations.