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English definition of “cash equivalent”

cash equivalent

noun [C]    
MONEY an amount of money that has the same value as something: The insurance policy states that the insurer will endeavour to replace your lost or damaged goods rather than offer a cash equivalent .
[often plural] ACCOUNTING, FINANCE money in a company's bank accounts and other assets that can easily be changed into money : The company believes that its existing cash and cash equivalents are sufficient to meet their cash requirements during the next twelve months .
(Definition of cash equivalent noun from the Cambridge Business English Dictionary © Cambridge University Press)
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