Financial assets - Cash
6 important questions on Financial assets - Cash
What does the term "cash" include?
What is a line of credit?
What are common examples of cash equivalents?
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Four basic objectives for cash management
2. Prevent theft and loss
3. Anticipate borrowing needs and ensure cash availability
4. Prevent poorly invested stockpiles of cash
Major actions/policies of effective cash control:
2. Cash budget preparation
3. Control listing of cash receipts
4. Daily deposits
5. Check payments
6. All expenditures verified before check is cut, with separation similar to #1
7. Bank statement balancing
Which account deals with minor inconsistencies in amount of cash in registers, petty cash, etc.
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