f approvals and proce
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QS 6-3 Cash and equivalents LO C2
Choose from the following list of terms and phrases to best complete the following statements.
1.The term
Liquidity
refers to a company's ability to pay for its current liabilities.
2.
set of approvals and procedures used to control the acceptance of liabilities and cash payments.
category includes short-term, highly liquid investment assets that are readily convertible to a known cash
amount and sufficiently close to their due dates so that their market value will not greatly change.
3. The
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