Ch 2 cash & cash equiv

Question 0

Compensating balance and restricted cash

Answer 0

Separate disclosure needs to be made for the cash & cash items which are restricted to withdrawal usage

Question 1

Cash & cash equivalent

Answer 1

Any security that can be converted into cash within 90 days

Question 2

Cash in bond sinking fund

Answer 2

Investment

Question 3

Post dates check from customer

Answer 3

Receivable

Question 4

Financial instrument under IFRS

Answer 4

Accounted for at amortized cost if the entity plans to hold the assets to collect scheduled cash flows and if those cash flows consist exclusively of principle interest payments

Question 5

Financial liabilities under IFRS

Answer 5

Generally reported at amortized costs unless it is more relevant to report under fair value