Which of the following statements is incorrect? Cash that is restricted and not available for use within one year from the end of reporting period should be included in noncurrent assets O Cash fund that is being held specifically for the retirement of long-term debts not maturing currently should be excluded from current assets and shown as a noncurrent investment. O Investments that can be liquidated at once and with little risk of loss of principal may be classified as cash equivalents and included the caption "Cash and cash equivaents" Cash and cash equivalents is always presented as the first line item in the statement of financial position Clear my choice

Which of the following statements is incorrect? Cash that is restricted and not available for use within one year from the end of reporting period should be included in noncurrent assets O Cash fund that is being held specifically for the retirement of long-term debts not maturing currently should be excluded from current assets and shown as a noncurrent investment. O Investments that can be liquidated at once and with little risk of loss of principal may be classified as cash equivalents and included the caption "Cash and cash equivaents" Cash and cash equivalents is always presented as the first line item in the statement of financial position Clear my choice

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 8E

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