599149
Description
Quiz by smjackson7, updated more than 1 year ago
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Created by smjackson7
about 10 years ago
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Question 1
Question
Which of these are considered Cash items:
Answer
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Money on hand
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Checks and money orders from customers
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Money in bank
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Receivables (other than AR) with original maturity 90 days or less
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Compensating balances (banking minimum)
Question 2
Question
Which of these are considered to be cash equivalents:
Answer
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Money in bank
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Compensating balances (banking minimums)
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Receivables (other than AR) with original maturity 90 days or less
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Checks and money orders from customers
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Money on hand
Question 3
Question
When must a bank reconciliation occur?
Answer
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When there is a cash balance on the company's books.
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When there is a cash balance on the bank statement.
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If the cash balances on the company's books and the bank statement don't match.
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