Treasury Bills: Cash Equivalent or Marketable Security?
Final semester college student here studying for the CFA L1. Was going through the FSA curriculum and noticed that T-Bills are placed under both Cash Equivalents and Marketable Securities. As assests with a validity of over 90 days are considered under marketable securities, I was not able to understand the reasoning behind T-Bills being under cash equivalents as after a quick search on the internet i found that it's the CMBs that are under 90 days and T-Bills are generally issued for over 90 days. Can someone please clear my doubt regarding the same?
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