A cash instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.
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A cash instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.
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What is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity?
For a corporation:¤Assets = Liabilities + Stockholders’ equity.¤Assets = Liabilities + Paid-in-capital + Retained earnings.