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Which is concerning measurement of cash and cash equivalents

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Reference no: EM133009797

Problem 1: Which of the following statements is false?

a. A certified check is a liability of the bank certifying it.
b. A certified check will be accepted by many persons who would not otherwise accept a personal check.
c. A certified check is one drawn by a bank upon itself.
d. A certified check should not be included in the outstanding checks.

Problem 2: Which is false concerning measurement of cash and cash equivalents?

a. Cash is measured at face value.
b. Cash in foreign currency is measured at the current exchange rate.
c. Cash equivalents should be measured at maturity value, meaning face value plus interest.
d. If a bank or financial institution holding the funds of the entity is in bankruptcy or financial difficulty, cash should be written down to estimated realizable value.

Reference no: EM133009797

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