Which of the Following Is Considered to Be Part of Cash

question 287

True/False

Which of the following is considered to be part of cash and cash equivalents under IFRS,but not U.S.GAAP?
A)treasury bills
B)bank overdrafts
C)commercial paper
D)money market funds

• A)treasury bills
• B)bank overdrafts
• C)commercial paper
• D)money market funds

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Definitions:

LIFO

Last In, First Out, an inventory valuation method where the goods purchased last are the first to be sold.

Safeguarding Inventory

Measures and controls put in place to protect a company's inventory from loss, theft, or damage.

Financial Statements

Financial statements are records that outline the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Inventory Controls

Systems and procedures used to manage and regulate the quantity, quality, and cost of inventory.