Is term deposit come under cash and cash Equivalent
This query is : Resolved
06 December 2023
whether fixed deposit ( Term deposit) comes under cash and cash Equivalent under scheduled III ?
12 December 2023
cash and cash equivalents include cash on hand, demand deposits, and short-term, highly liquid investments that are easily convertible to known amounts of cash and have a short maturity period, typically within three months.
Whether fixed deposits qualify as cash and cash equivalents depends on their maturity and liquidity. Fixed deposits with a maturity period exceeding three months may not meet the criteria for cash and cash equivalents. However, if a fixed deposit has a short maturity and is readily convertible to cash, it might be considered as such.
Whether fixed deposits qualify as cash and cash equivalents depends on their maturity and liquidity. Fixed deposits with a maturity period exceeding three months may not meet the criteria for cash and cash equivalents. However, if a fixed deposit has a short maturity and is readily convertible to cash, it might be considered as such.
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