Money orders are considered cash.

Money Orders

Financial instruments issued for a specific amount of money, acting as a safe alternative to cash or personal checks.

Cash

Money in the form of currency that can include coins, currency notes, and sight deposits at financial institutions.

Determine the categories of transactions deemed as cash and their relevance in the context of internal control systems.

Verified Answer

Final Answer :

True

Explanation :

Money orders are considered equivalent to cash as they are prepaid and can be easily converted to cash.

Learning Objectives

Determine the categories of transactions deemed as cash and their relevance in the context of internal control systems.