A(n) ____ asset is one which can be quickly converted into cash without signiﬁcant loss in value.
A)current
B)non-current
C)intangible
D)liquid
E)illiquid

Question

Quizplus · Accepted Answer

A liquid asset can be quickly converted into cash without significant loss in value. Current assets refer to assets expected to be converted into cash within a year, but not all current assets are necessarily liquid assets. Non-current assets are long-term assets, such as property or equipment, that are not expected to be converted into cash within a year. Intangible assets, such as patents or trademarks, are not physical assets and cannot be easily converted into cash. Illiquid assets are assets that cannot be easily converted into cash without significant loss in value.

A(n) ____ Asset Is One Which Can Be Quickly Converted