Select all that applyWhich of the following items are included in cash?Multiple select question.Currency and coinsNotes receivable from customersChecks from customersBalance in checking accountsAccounts receivable from customers
Question
Select all that applyWhich of the following items are included in cash?Multiple select question.Currency and coinsNotes receivable from customersChecks from customersBalance in checking accountsAccounts receivable from customers
Solution
The items included in cash are:
- Currency and coins
- Checks from customers
- Balance in checking accounts
Notes receivable from customers and Accounts receivable from customers are not considered as cash. They are considered as current assets but they need to be collected from customers, hence they are not cash.
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