Cash equivalents:

A) Include savings accounts.
B) Include checking accounts.
C) Are readily converted to a known cash amount.
D) Include time deposits.
E) Have no immediate value.

Savings Accounts

Bank accounts that earn interest over time, allowing individuals to save money for future use.

Checking Accounts

Bank accounts that allow for easy access to funds through checks, debit cards, and electronic transfers.

Cash Equivalents

Cash equivalents are highly liquid investment securities with maturities of three months or less, making them almost as liquid as cash itself.