noel

> I'm not sure if the accounting rules actually stipulate that in the definition of cash equivalents and what the cutoff for volatility would be

My GAAP book indicates that LT Investments are those intended to be held for > 1 year. No mention of or requirement for (il)liquidity. These investments can include those that are highly marketable (debt and equity securities, surrender values of life insurance policies, etc.) and less marketable (land).