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cash equivalent

   Also found in: Dictionary/thesaurus, Wikipedia 0.06 sec.
cash equivalent
1. An asset such as property or stock that has a realizable cash value equivalent to a specific sum of money.
2. An asset that is so easily and quickly convertible to cash that holding it is essentially equivalent to holding cash. A Treasury bill is a cash equivalent.
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81% share in Spanish oil company Repsol YPF, or the cash equivalent.
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When the food drive began in 1993, the hilltop church received fewer than 3,000 cans - or the cash equivalent of two cans per dollar raised.
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Instead, they must either use the days or have the employer automatically contribute the cash equivalent to the retirement plan.
Conversion of unused vacation days into retirement plan contributions by Daum, Timothy A. / The Tax Adviser
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