BRS Quiz

Cash and similar assets are called __________________ because

they can be readily used to pay liabilities.

• Liquid assets

• Fixed assets

• Non-current asset

• Intangible asset

______________ are short-term, highly liquid investments that can be readily convertible to a known cash amount

• Currency in the business

• Goodwill and patents

• Cash Equivalents

Handling cash is separate from recordkeeping for cash.

• True

• False

_________ is sent by bank to each customer that shows the transactions happened during the month.

• Check

• Bank Statement

• Deposit Ticket

The bank that pays cash to people/businesses on behalf of us is called ________

• Payer

• Marker

• Payee