Under which of the following situations deposit is considered to be a cash equivalent? I) Assuming 31st December 2018 year end, a term deposit starting on 1 December 2018 and maturing on 31 January 2019 II) Assuming 31st December 2019 year end, a term deposit starting on 15th November 2019 and maturing on 21st June 2020 III) Assuming 31st December 2018 year end, a term deposit starting on 1 December 2018 and maturing on 15th January 2019 IV) Assuming 31st December 2019 year end, a term deposit starting on 15th November 2019 and maturing on 21st June 2021 a. I and III b. IV only c. II only d. I, II and III

Under which of the following situations deposit is considered to be a cash equivalent? I) Assuming 31st December 2018 year end, a term deposit starting on 1 December 2018 and maturing on 31 January 2019 II) Assuming 31st December 2019 year end, a term deposit starting on 15th November 2019 and maturing on 21st June 2020 III) Assuming 31st December 2018 year end, a term deposit starting on 1 December 2018 and maturing on 15th January 2019 IV) Assuming 31st December 2019 year end, a term deposit starting on 15th November 2019 and maturing on 21st June 2021 a. I and III b. IV only c. II only d. I, II and III

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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