Cash is no longer legal tender?

[InDebtInDC]

Can someone please define "cash", please? To me it just means money. I think cash may come in different forms just like money can come in different forms.

One goat is worth three chickens. Is that cash?

[disneysteve]

Originally Posted by InDebtInDC

Can someone please define "cash", please? To me it just means money. I think cash may come in different forms just like money can come in different forms.

Cash=Physical money. In the US, that would be paper money (1, 2, 5, 10, 20, 50 and 100 dollar bills) and coins (1, 5, 10, 25, 50 and 100-cent pieces).

Anything else - checks, debit cards, credit cards, goats or chickens would not qualify as cash.

[sweeps]

Originally Posted by disneysteve

Cash=Physical money.

Right... not to be confused with Cash Equivalents, which means anything that can be quickly converted to cash.

[TurningColorz]

Money has a much better "smell" than plastic.
Am I the only one who likes the "smell" of money?

Priceless!
Mike - TurningColorz

[InDebtInDC]

Originally Posted by disneysteve

Cash=Physical money. In the US, that would be paper money (1, 2, 5, 10, 20, 50 and 100 dollar bills) and coins (1, 5, 10, 25, 50 and 100-cent pieces).

Anything else - checks, debit cards, credit cards, goats or chickens would not qualify as cash.

Cash - Wikipedia, the free encyclopedia
cash Definition

I found this confusing:

In bookkeeping and finance, cash refers to a current asset account, as opposed to long term assets such as property plant and equipment.

Cash is commonly defined as money in the form of bills or coin, legal tender.

Is there a legal definition somewhere?


I found this insightful: Re: What is the appropriate definition of "CASH"?

In selecting a definition, it is usually worthwhile to decide what we want to use the definition for. After all, the definition is supposed to serve us … instead of us serving the definition!

[simpleyme]

no I do not smell my money but I do like feel of money
which is weird as I am a clean freak and know its full of germs and I once heard that all paper money has white drugs contaminating it

I also like looking at stacks of money in my job I have to count huge amounts and you know it never gets boring LOL

[jodi]

I usually favor the cc myself, especially for large purchases (a little more protection there as well as the paper trail), but I have to admit that it IS easier mentally to use the cc than to hand over a stack of hundreds. Anyone else think that this tendency towards card use contributes (for SOME people, obviously not all) to their overspending? It's much easier to rethink a purchase when you see the cold hard cash leaving your hands.

[sweeps]

Originally Posted by InDebtInDC

In bookkeeping and finance, cash refers to a current asset account, as opposed to long term assets such as property plant and equipment.

Yes, but that is shorthand for "Cash and cash equivalents".

[PRICEPLUS]

I have to agree with Yogi Berra, "cash is almost as good as money"!

I like cash in that it allows me to be off the grid as it were. I sometimes become very troubled knowing that any and all my purchases are being monitored and logged by businesses.

I like my privacy and go to greatlengths to protect it. A cashless society seems Orwellian to me. Unlike the commercial I am going ot use cash to purchase coffee in a shop!

Pencil and paper allow me to keep track of purchases. It works well thank you. Just my .02 cents.

[disneysteve]

In bookkeeping and finance, cash refers to a current asset account

The accounting definition is different than what we are all talking about. When non-accountants say cash, they mean coins and dollar bills.

[QueenOphelia]

Originally Posted by InDebtInDC

Can someone please define "cash", please? To me it just means money. I think cash may come in different forms just like money can come in different forms.

One goat is worth three chickens. Is that cash?

Try paying for a coffee at DD with a chicken.

When you sell your house ask the buyer to give you a 200 heads of cattle and then use that to buy your new home in Arizona.

I would love to see goats walking in the subway

[disneysteve]

Originally Posted by QueenOphelia

Try paying for a coffee at DD with a chicken.

Come now. A chicken is worth at least a coffee AND a few donuts.

[InDebtInDC]

Originally Posted by disneysteve

Come now. A chicken is worth at least a coffee AND a few donuts.

You guys crack me up

[TurningColorz]

I still think cash smells better than chickens and goats...

Mike - TurningColorz