Multiple Choice Questions on Cash Fund include ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Cash Fund include ........

General Accounting Principles cash flow statement
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    Cash Fund include

    Cash in hand

    Incorrect Answer

    Demand deposits with banks

     

    Incorrect Answer

    cash equivalents.

     

    Incorrect Answer

    All of the above

    Correct Answer
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    Explanation:

    As per AS-3 (revised) issued by the Accounting Standards Board

    (a) Cash fund :

    Cash Fund includes (i) Cash in hand

    (ii) Demand deposits with banks, and

    (iii) cash equivalents.

    (b) Cash equivalents are short-term, highly liquid investments, readily convertible into cash and which are subject to insignificant risk of changes in values.

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