For the following items Questions 220-227, indicate whether each should be (a) included or (b) excluded from the line item titled Cash and cash equivalents on the balance sheet.
-Corporate bonds maturing in 30 days
A)Included
B)Excluded

Question

Quizplus · Accepted Answer

Corporate bonds maturing in 30 days should be excluded from the line item titled Cash and cash equivalents on the balance sheet because they are not cash or a highly liquid instrument that can be readily converted into cash.

For the Following Items Questions 220-227, Indicate Whether Each Should