A(n) _________ asset is one which can be quickly converted into cash without significant loss in value.
A) Current
B) Fixed
C) Intangible
D) Liquid
E) Long-term

Question

Quizplus · Accepted Answer

Liquid assets are those that can be quickly converted into cash without a significant loss in value, making choice D the correct answer. Fixed, intangible, and long-term assets typically cannot be converted to cash quickly without potential loss in value, and while current assets include cash and other assets expected to be converted to cash within a year, not all are as liquid as cash itself.

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