Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN: 9781337395250
Author: Eugene F. Brigham, Joel F. Houston
Publisher: Cengage Learning
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Chapter 16, Problem 4Q
Summary Introduction

To explain: The cash budget and its use in reduction of cash and in negotiating a loan and advantage and disadvantage of daily cash budgets over monthly cash budget.

Introduction:

Cash:

Cash is always reported under the head of current assets in the balance sheet of a company. It is treated as current asset because any asset which can be report in the form of cash within a period of 1 financial year is classified as current asset and cash is already presented in the form of cash.

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