Asked by Juliette Grant on Jun 14, 2024
Verified
Money orders are considered cash.
Money Orders
A payment order for a pre-specified amount of money; it functions as a form of prepaid payment instrument.
Cash
Liquid assets held or accessed by an entity for transactions, funding liabilities, and operational purposes.
- Learn the theoretical underpinnings and significance of internal control operations over cash and assorted assets.
Verified Answer
AS
Anshika SrivastavaJun 18, 2024
Final Answer :
True
Explanation :
Money orders are considered cash equivalents because they are prepaid and cannot bounce like a personal check.
Learning Objectives
- Learn the theoretical underpinnings and significance of internal control operations over cash and assorted assets.