Which one does not present cash equivalent? a) Commercial Paper b) Treasury Bill c) Treasury Bond d) Money market Funds

All the the options would qualify as cash equivalents instruments if the treasury bond is short term(i.e near maturity -or maturity of less than one year) hence low interest rate risk which is usually associated with longer term bonds.

Cash equivalent instruments are those that can easily be converted to cash without risk of

significant change in value should the need arise and since there is no qualification on the maturity of treasury bond, we can assume that it has a longer maturity hence not a cash equivalent.

I hope this helps.