Asked by
Amiira Lively
on Nov 18, 2024Verified
Cash equivalents
A) are illegal in some states
B) will be converted to cash within two years
C) will be converted to cash within three months
D) will be converted to cash within four months
Cash Equivalents
Short-term, highly liquid investments that are readily convertible to known amounts of cash with original maturities of three months or less.
Illegal States
Illegal states refer to conditions or configurations in a computer system, program, or algorithm that violate its intended operational parameters or rules, often leading to errors or system failure.
Converted to Cash
Transforming assets or securities into liquid cash through sale or redemption.
- Distinguish between cash, cash equivalents, and other types of financial instruments.
Verified Answer
SS
Learning Objectives
- Distinguish between cash, cash equivalents, and other types of financial instruments.