Which group of items listed below should be included in the cash account?
A) Silver coins, postage stamps, demand deposits, personal checks.
B) Promissory notes, demand deposits, money orders, silver coins.
C) Money orders, postdated checks, personal checks, time deposits.
D) Silver coins, money orders, demand deposits, personal checks.

Question

Quizplus · Accepted Answer

The cash account should include assets that are readily available for use as currency, such as demand deposits, personal checks, and money orders. Silver coins can also be included in the cash account as they are acceptable forms of currency. However, postdated checks and time deposits are not considered cash as they are not readily available for use as currency.

Which Group of Items Listed Below Should Be Included in the Cash