Of the following items, which would be included in cash on hand and classified as a current asset? A. Negotiable checks
B. Certificates of deposit
C. Bank drafts
D. Coins and currency

Question

Quizplus · Accepted Answer

A, C, and D (Negotiable checks, Bank drafts, Coins and currency) are considered cash on hand and classified as current assets because they are readily available for use in the company's operations. Certificates of deposit are not typically classified as cash because they are time deposits with a bank and cannot be withdrawn on demand without penalty.

Of the Following Items, Which Would Be Included in Cash