Hello, I need help with a discussion: If a company has asset classes that include short-term and long-term investments, what criteria should they employ to determine if an asset is reported as a cash

Hello, I need help with a discussion:

If a company has asset classes that include short-term and long-term investments, what criteria should they employ to determine if an asset is reported as a cash equivalent or an investment on their classified balance sheet? Use examples to illustrate your position and be sure to cite GAAP to support your claims.