which of the following is considered cash for financial reporting purposes? multiple choice balances in…

which of the following is considered cash for financial reporting purposes? multiple choice balances in savings accounts. amounts owed to suppliers. inventory that is likely to be sold within three months. amounts to be collected from customers.

which of the following is considered cash for financial reporting purposes? multiple choice balances in savings accounts. amounts owed to suppliers. inventory that is likely to be sold within three months. amounts to be collected from customers.

Answer

Brief Explanations:

Cash for financial - reporting purposes includes cash on hand and cash equivalents. Balances in savings accounts are considered cash equivalents as they are highly liquid and can be readily converted to known amounts of cash. Amounts owed to suppliers are liabilities, inventory is a current asset but not cash, and amounts to be collected from customers are accounts - receivable.

Answer:

Balances in savings accounts.