According to AASB 107 Statement of Cash Flows,which of the following items does not fall within the definition of cash?
A)Accounts receivable.
B)Bank notes and coins.
C)Deposits on the short-term money market with a term of less than 3 months.
D)Non-bank bills that are readily convertible to cash.

Question

Quizplus · Accepted Answer

According to AASB 107, cash includes bank notes and coins, deposits in bank accounts, and other short-term investments that are readily convertible to cash. Accounts receivable are not cash, as they are amounts owed to the entity, not cash on hand.

According to AASB 107 Statement of Cash Flows,which of the Following