Question

Which of the following classifications is likely to be eliminated by the FASB?

a. temporary investments
b. short-term investments
c. restricted cash
d. cash equivalents

Answer 1

Answer: D. Cash equivalents

Step-by-step explanation:

Financial Accounting Standards Board (FASB) is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles within the United States in the public's interest