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What type of assets are defined as cash in accounting

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Reference no: EM132616028

Problem 1: Many people think of cash as coins and notes. In accounting, cash has a broader meaning. What type of assets are defined as cash in accounting?

'Although the process of bank reconciliation provides a measure of control over cash in a business entity, bank reconciliation is useless unless it operates within a framework that incorporates essential elements of a good internal control system.' Discuss this statement.

Reference no: EM132616028

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