Q46
Identify the asset from the following
A.
Cash and cash equivalent
AnswerB.
Creditors
C.
Notes payable
D.
Bank loan
Answer: Option A
Solution
Answer: Option A
Solution:
Cash and cash equivalent are the asset from the following. Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet. Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount".