Cash

High school (ages 12+)
Mathematics & Numbers

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/cash

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the economic definition?Physical currency (banknotes and coins) and near-cash equivalents
2. What is the accounting classification?Current asset, representing the most liquid form of wealth
3. What is cash and why can we touch it?Cash is real money you can hold, like coins and paper bills. It is the most liquid form of money, ready to use right away.
4. Why do people still use cash even with credit cards?Cash lets people budget and see how much money they spend. It also gives privacy and works when electronic systems fail.

Liquidity: The ease with which an asset can be converted into cash without affecting its market price.
Fiat Money: Currency that a government has declared to be legal tender, not backed by a physical commodity.
Cash Equivalents: Short-term, highly liquid investments that are readily convertible to known amounts of cash.
Financial Inclusion: The availability and equality of opportunities to access financial services for all individuals and businesses.