According to AASB 107/IAS 7 Statement of Cash Flows, which of the following items does NOT fall within the definition of cash?
A) Bank notes and coins.
B) Non-bank bills that are readily convertible to cash.
C) Deposits on the short-term money market with a term of less than 3 months.
D) Accounts receivable.

Question

Quizplus · Accepted Answer

According to AASB 107/IAS 7, cash includes bank notes, coins, and deposits on the short-term money market with a term of less than 3 months. Non-bank bills that are readily convertible to cash are also typically considered cash equivalents. However, accounts receivable do not fall within the definition of cash or cash equivalents as they represent amounts owed to the company by customers and are not immediately available for use as cash.

According to AASB 107/IAS 7 Statement of Cash Flows, Which