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Financial statements of companies
Accountancy
In part 1 of schedule ||| , in the place where balance sheet states 'cash and cash equivalents', the solutions for illustration and practice questions in ICAI study material states 'cash and bank balances'. Please explain
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Cash and cash equivalents refers to the line item on the balance sheet that reports the value of a company's assets that are cash or can be converted into cash immediately. Cash equivalents include bank accounts and marketable securities such as commercial paper and short-term government bonds. Hence, Cash and cash equivalents is shown as cash and bank balance
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