Accounts receivable is not considered to be a cash equivalent for purposes of pr

Question

Accounts receivable is not considered to be a cash equivalent for purposes of preparing the statement of cash flows. true or false Accounts receivable is not considered to be a cash equivalent for purposes of preparing the statement of cash flows. true or false Accounts receivable is not considered to be a cash equivalent for purposes of preparing the statement of cash flows. true or false Accounts receivable is not considered to be a cash equivalent for purposes of preparing the statement of cash flows. true or false

Explanation / Answer

True

Accounts receivable is not a cash equivalent.Only cash in hand and bank are considered purely as cash equivalents all others are current assets

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