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.
-Certificate of deposit maturing in six months
A)Included
B)Excluded

Question

Quizplus · Accepted Answer

Certificates of deposit maturing in six months are typically excluded from cash and cash equivalents because they do not meet the criteria of being readily convertible to a known amount of cash without significant risk of change in value.

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