Answered: If a certificate of deposit matures in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If a certificate of deposit matures in ____________, it is described as "cash equivalent." a. Less than three months. b. Less than six months. c. More than six months. d. More than three months. Question 2 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Information is verifiable when. a. It does not give any result b. Using same methods it gives you similar results c. It give you different results using same methods d. Using different methods it gives you same results Question 3 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Cheque was issued to supplier was not presented to the bank for payment will a. Increase in Bank book balance. b. Decrease in Cash book balance. c. Decrease in Bank book balance. d. Increase in Cash book balance.

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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