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1. Petty cash, bank account balance, term deposit due in5 months, short-term investments readily convertible to cash which are subject to insignificant risk of changes in value.
2. Petty cash, bank account balance, term deposit due in5 months.
3. Petty cash, bank account balance, short-term investments readily convertible to cash which are subject to insignificant risk of changes in value.
4. Petty cash, bank account balance, term deposit, debentures convertible within6 months.
Yes, the correct answer is option no.3
3.....................................is correct answer.
My answer is option #3 belongs to the category cash/cash equivalents.
3. Petty cash, bank account balance, short-term investments readily convertible to cash which are subject to insignificant risk of changes in value.
Answer no3.........................
Definitely option3 is the right answer. According to IAS, Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
related to ias7
Cash equivalents are short-term, highly liquid investments that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value.
so as the term deposit time more than3 month so the best answer is 3. Petty cash, bank account balance, short-term investments readily convertible to cash which are subject to insignificant risk of changes in value.
The answer is (3) >>>>>>>>>>>>>>>
Option3 is the right answer
IAS7 was reissued in December, retitled in September, and is operative for financial statements covering periods beginning on or after1 January.
