Which Of The Following Items Would Be Considered "Cash" And Reflected In A Company's Cash Account? (Check All That Apply.)
The correct options of this multiple choice question (mcq) are A. B and C as these can be used for cash receipts and payments purposes. Money orders can be used as cash receipts & payments just like Cash is used to pay bills, pay salaries, receive payments, etc. Money orders can be used as a exchange of money to buy goods or services just like cash does. Money orders contain the guaranteed amount of money agreed upon between two parties for the exchange of goods or services. It is made by third-party distributor like Post Office, MoneyGram Company, etc. They charge a small fee for the process. Coins, which usually consist of metal, are used as a money, so these can be used as a cash just like paper money. Coins are used to pay bills, paying liability or to acquire assets. However, coins have weights and difficult to use for receipts and payments unlike paper money. These are issued by the central bank of a country. These can be included in the cash balance of a company’s busi...