The statement of cash flows (as well as the balance sheet) includes within cash the notion of cash equivalents. TheFASB Accounting Standards Codification represents the single source of authoritative U.S. generally acceptedaccounting principles.Required:1. Obtain the relevant authoritative literature on cash equivalents using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). What is the specific citation that describes the guidelines fordetermining what items should be deemed cash equivalents?2. List the guidelines.

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