Refer to the given list of assets. 1. Large-denominated ($100,000 and over) time deposits
2) Savings deposits
3) Currency (coins and paper money) in circulation
4) Small-denominated (under $100,000) time deposits
5) Stock certiﬁcates
6) Checkable deposits
7) Money market deposit accounts
8) Money market mutual fund balances held by individuals
9) Money market mutual fund balances held by businesses
10) Currency held in bank vaults
Which of the following are considered to be near monies?
A) items 2, 5, 8, and 9
B) all items except for 3
C) items 2, 4, 7, and 8
D) items 1, 5, and 10

Question

Quizplus · Accepted Answer

Near monies are highly liquid financial assets that are not considered to be money but can be easily converted into money. Items 2, 4, 7, and 8 (savings deposits, small-denominated time deposits, money market deposit accounts, and money market mutual fund balances held by individuals) are considered to be near monies because they can be easily converted into cash.

Refer to the Given List of Assets