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Which shall not be considered cash for financial reporting

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Reference no: EM133008286

Problem 1: Which of the following shall NOT be considered cash for financial reporting purposes?

a. Petty cash funds and change funds

b. Money orders, certified checks and personal checks

c. Coin, currency and available funds

d. Postdated checks and IOUs

Problem 2: To be reported as "cash and cash equivalent", the cash item must be

a. Unrestricted in use for current operations

b. Available for the purchase of property, plant and equipment

c. Set aside for the liquidation of long-term debt

d. Deposited in bank

Reference no: EM133008286

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