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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Cash definition
There are two definitions of cash, I am confused that both are contradicting.
Statement 1:
Cash consist of cash in hand and deposit repayable upon demand, less overdrafts.
Statement 2:
Cash is defined as cash in hand and bank current account balances, including overdrafts.
Both statements are correct except, of course, bank overdrafts reduce the total because they are negative balances.
