Asked by Bailey Goodman on May 14, 2024
Verified
Money orders are considered cash.
Money Orders
Financial instruments issued for a specific amount of money, acting as a safe alternative to cash or personal checks.
Cash
Money in the form of currency that can include coins, currency notes, and sight deposits at financial institutions.
- Determine the categories of transactions deemed as cash and their relevance in the context of internal control systems.
Verified Answer
MD
Myrtha DesronvilMay 20, 2024
Final Answer :
True
Explanation :
Money orders are considered equivalent to cash as they are prepaid and can be easily converted to cash.
Learning Objectives
- Determine the categories of transactions deemed as cash and their relevance in the context of internal control systems.
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