cash equivalent
noun [ C ]
ukus MONEY
an amount of money that has the same value as something:
The insurance policy states that the insurer will endeavour to replace your lost or damaged goods rather than offer a cash equivalent.
[ often plural ] ACCOUNTING, FINANCE
money in a company's bank accounts and other assets that can easily be changed into money:
The company believes that its existing cash and cash equivalents are sufficient to meet their cash requirements during the next twelve months.