(Answered) Question 1 good accounting systems help with the management

Accounting

Question: 1. Good accounting systems help with the management and control of cash and cash equivalents.

2. Define and contrast the terms liquid asset and cash equivalent.

3. Why would companies invest their idle cash in cash equivalents?

4. Identify five principles of effective cash management.

5. An important part of cash management is knowing when, and if, to take purchase discounts.

a. Which accounting method uses a Discounts Lost account?

b. What is the advantage of this method for management?

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