Which of the Following Is Not Included in M1

question 31

Multiple Choice

Which of the following is not included in M1?

• A)currency
• B)demand deposits
• C)traveler's checks
• D)credit cards

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Definitions:

International Accounting Standards

A set of accounting guidelines that dictate how financial transactions and statements should be recorded and reported across different countries.

IAS 17

An international accounting standard that provides guidance on the accounting and financial reporting of leases.

Unqualified Audit Report

An auditor's report that is issued when an auditor determines that all of the financial records provided by a company are free of material misstatement, indicating a clean bill of health.

Financial Leases

Covers the entire expected life of the equipment; does not provide for maintenance service, is not cancellable, and is fully amortized.