Question: answer these 2 question. Why are cryptocurrencies and digital coins not considered to be cash and cash equivalents under GAAP? What type of external users

answer these 2 question. Why are cryptocurrencies and digital coins not

considered to be cash and cash equivalents under GAAP? What type of

answer these 2 question.

Why are cryptocurrencies and digital coins not considered to be cash and cash equivalents under GAAP? What type of external users might Cupcakes have for its financial statements? If your job was to review bank loan applications for a bank, what financial statement information would you examine (and why) if Cupcakes submitted a loan application to open a new bakery to supply their stores

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