Cash is the only asset on the balance sheet whose money value is exact and not merely an estimate.

Name: Cash is the only asset on the balance sheet whose money value is exact and not merely an estimate.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. The value of cash can be precisely determined, as it is in the form of currency, coins, or funds held in a bank account. Other assets, such as property, equipment, and investments, have an estimated value that may fluctuate over time.

Cash Is the Only Asset on the Balance Sheet Whose