It includes money or its equivalent that is readily available for unrestricted use.

It is the standards medium of exchange and the basis of accounting measurements.

It refers to undeposited collections awaiting deposit and other current funds held as of the reporting date.

Refers to deposits in banks that are available for immediate withdrawal and unrestricted use.

Guaranteed by banks to advance funds on the demand by the party to whom the draft was directed.

Similar to bank drafts but are drawn from post-offices or other financial institutions.

It is a fund similar to the petty cash fund but is used for a limited or specific purpose set by management.

It is a fund set aside to be used in paying taxes.

Which of the items are not included as cash?

It is a form of asset replacement fund wherein cash payments to the fund are equal to the periodic depreciation charges on the related asset. When the asset is fully depreciated, the fund can be used to acquire a replacement.

It is the difference between the amount of line of credit and the amount that was actually borrowed.

These are checks delivered ro payees but not yet encashed within a relatively long period of time, normally 6 months or more.

These are short term highly loquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Acquired within 3 months or less before their maturity date.

It is a short term obligation issued bybthe government at a discount. It normally have a maturity of 90 days to less than a year.

It is a long term obligation issued also by government. It has a maturity of 1 year to less than 10 years.

It is a long term obligation issued also by government. It has a maturity of 10 years or more.

These are investments in portfolios of short term securities.

It consist of short term, unsecured, notes payable issued in large denominations by large companies with high credit ratings to other companies and institutional investors.

It is a form of a bank deposit normally made in fixed denomination, bears interest higher than that of regular deposits, and has a pre-agreer maturity. Itcis evidence by a certificate of deposit.

Cash is measured at _________.

It is the amount expected to be recovered from the deposit and is determined usually by reference to the insured amount of the deposit.

It is a minimum amount that must be maintained in an entity's bank account as support for funds borrowed from the bank.

It is a negative (credit) balance in the cash in bank account resulting from overpayment of checks in excess of the amount of deposit.

It is any action or process effected by management that is designed to help an entity achieve its objectives.

The duties of (a) authorization, (b) execution, (c) recording, and (d) custody over cash should be segregated.

It requires that all cash receipts should be deposited intact and all cash discbursements should be made through checks.

This should be prepared regularly, immediately upon the receipt of the monthly bank statement, to reconcile on a timely basis the differences between the cash balance per books and the cash balance per bank statement.

It should be performed to provide reasonable assurance that actual cash tallies with the balance per records.

It should be maintained, especially for cash funds, suffient only to defray specific business requirements.

Entities often utilize this to expedite cash collections and to ensure that cash collections are deposited intact. It is rented for a fee and custoners are advised to remit their payments directly to this.

It is an internal control over all cash disbursements. Under this system, a voucher is prepared for every cash disbursement in order to ensure that each disbursement is properly authorized, made for a valid expenditure, and properly recorded.

It is a business document or written authorization that supports every disbursement made by an entity.

Occurs when the collection of receivable from one customer is misappropriated and then concealed by applying a subsequent collection from another customer.

Occurs when cash shortage is concealed by overstating the balance of cash. It is made possible by exploiting the float period.

It shows the dates of all transfers of cash among the various bank accounts.

It is a bank statement prepared a few days after month-end. Its purpose is to help auditors verbal reconciling items on the year-end bank reconcilation.

It is a form of fraudulent financial reporting and not primarily a methodnod concealing cash shortage. It occurs when books are not closed at year end and transactions in the subsequent period are deliberately recorded in the current period in order to improve entity's financial performance.

It is a money set aside to defray relatively small amounts of cash disbursements.