Please provide solution on each items. Thank you :)

Problem 1-23 Multiple choice (IAA) Res Undeposited 1. Which of the following should not be considered cash? 1. Restricted depass Petty cash fund b. Money order & Current asset Coin and currency Noncurrent a d. IOU Be written off 2. Which of the following is usually considered cash? d. As part of cas Certificate of deposit b. Checking account & What is a comper Money market certificate d. Postdated check 8. Saving account b. Demand depos 3. Which of the following should not be included in cash? c. Temporary inv d. Minimum dep a. Travel cash advance Certified check connection wit Personal check d. Manager check 9. Compensating bal 4. All of the following may be included in cash, except a. Fund in a bank . Currency b. Balance in a p b. Money market instrument C. Account that is c. Checking account balance d. Account on whi d. Saving account balance 10. A compensating b 5. Which statement is true about reporting bank overdraft under IFRS? Must be includ a. Overdraft typically cannot be offset against positive b. Which is legally liability balance in other cash account but reported as current loan is classifie b. Generally, cash overdraft is not allowed. c. Which is legally c. Overdraft can be offset against other bank account loan is classine when payable on demand and often fluctuates from . Which is not If positive to overdrawn as an integral part of cash management. lassified sepal d. All of these statements are true about bank overdraftProblem 1-25 Multiple choice (LAA) 1. The internal control feature specific to petty cash is a. Separation of duties Assignment of responsibility Proper authorization d. Imprest system 2. What is the major purpose of an imprest petty cash fund? a. To effectively plan cash inflows and outflows b. To ease the payment of cash to vendors c. To determine the honesty of the petty cashier d. To effectively control cash disbursements 3. The imprest petty cash fund account is debited a. Only when the fund is created. When the fund is created and everytime it is replenished. c. When the fund is created and when the size of the fund is increased. d. When the fund is created and when the size of the fund is decreased. 4. A cash over and short account a. Is not generally accepted. b. Is debited when the petty cash fund proves out over. c. Is debited when the petty cash fund proves out short. d. Is a contra account to cash. 5. Petty cash fund is a. Separately classified as current asset b. Money kept on hand for making minor disbursements of coin and currency rather than by writing checks C. Set aside for the payment of payroll d. Restricted cashProblem 1-24 Multiple choice (LAA) 1. A cash equivalent is a short-term, highly liquid investment readily convertible into known amount of cash and Is acceptable as a means to pay current liability Has a greater current fair value Bears a prime interest rate d. Is so near maturity that it presents insignificant risk of change in interest rate 2. Highly liquid investments are cash equivalents if the I Toave the poom maturity is 90 days or less a. From the date the investments are acquired b. From the end of reporting period C . From the date of issue of financial statements d. From the beginning of reporting period & The ingrest pety cash for 3. All of the following can be classified as cash and cash Ooh when the fod is equivalents, except & When the fund is created Redeemable preference shares due in 60 days Commercial papers due for repayment in 90 days . When the fund is create c. Equity investments d. A bank overdraft 4. Cash equivalents do not include Money market funds b. High grade marketable equity investments c. BSP treasury bills d. Commercial papers 5. Cash equivalents are a. Treasury bills and money market instruments. less. b. Investments with original maturity of three months of . Readily convertible into known amount of cash. d. All of these are features of cash equivalents.6. Technically, cash may not include a. Foreign currency b. Money order Restricted cash d. Undeposited customer check 7. Restricted deposits in foreign bank are classified as a. Current asset with appropriate disclosure. . Noncurrent asset with appropriate disclosure. Be written off as loss. d. As part of cash and cash equivalents. 8. What is a compensating balance? a. Saving account balance . Demand deposit account balance Temporary investment as collateral for loan Minimum deposit required to be maintained in connection with a borrowing arrangement 9. Compensating balance represents a. Fund in a bank account that cannot be spent b. Balance in a payroll checking account Account that is subject to bank service charge d. Account on which a bank pays interest 10. A compensating balance a. Must be included in cash and cash equivalent. b. Which is legally'restricted and related to a long-term draft loan is classified as current asset. . Which is legally restricted and related to a short-term loan is classified separately as current asset. bitive d. Which is not legally restricted as to withdrawal is trent classified separately as current asset