Postage stamps on hand are considered c) cash equivalents.
Explanation: Cash equivalents are short-term investments that are easily convertible to cash and have a known value. Postage stamps can be used like cash to pay for postal services. Although they aren’t cash in the traditional sense, they represent a value that can be redeemed, making them similar to cash equivalents. They can be quickly converted into a service (mailing) and thus have an inherent value, justifying their classification as cash equivalents rather than petty cash, cash, or prepaid expenses.