Cash on hand (undeposited),cash deposited in banks,and postage stamps should be included in the cash balance reported on the statement of financial position.

Name: Cash on hand (undeposited),cash deposited in banks,and postage stamps should be included in the cash balance reported on the statement of financial position.
Brand: Quizplus
Rating: 4.7 (49 reviews)

Question

Quizplus · Accepted Answer

Postage stamps are not considered cash or cash equivalents and should not be included in the cash balance on the statement of financial position.

Cash on Hand (Undeposited),cash Deposited in Banks,and Postage Stamps Should