Refer to the Apple Inc. consolidated financial statements in Appendix A and online in the filings…

Refer to the Apple Inc. consolidated financial statements in Appendix A and online in the filings section of http://www.sec .gov. The cash and cash equivalents section of the Consolidated Balance Sheet shows a balance of $13,844 million as of September 27, 2014. Requirements 1. What are the general criteria for an asset to be classified as a “cash equivalent”? 2. Refer to the Financial Instruments section of Note 1-Summary of Significant Accounting Policies. What types of assets does the company generally include in the category of “cash equivalents”? 3. Does the company include any more detailed description of “cash equivalents”? Where? Describe the categories.