For accounting purposes, cash includes which of the following?

Question

Quizplus · Accepted Answer

Cash includes balances on deposit in banks, as these can easily be withdrawn or used for payments. IOU's received from employees and post-dated checks are not considered cash until they are actually received and deposited. A note received from a customer in settlement of a trade account receivable may eventually be converted to cash, but until that happens it is not considered cash.

For Accounting Purposes, Cash Includes Which of the Following