Nicholas Bowman has a savings account with $825 in it.He knows that he can easily withdraw this money and spend it whenever he wishes.This would be an example of:
A)money management.
B)a personal possession.
C)a limited asset.
D)a liquid asset.
E)net worth analysis.

Question

Quizplus · Accepted Answer

A liquid asset is something of value that can be easily converted into cash without losing value. Nicholas Bowman's savings account, from which he can easily withdraw money, is an example of a liquid asset because it can be quickly accessed and used without any significant loss in value.

Nicholas Bowman Has a Savings Account with $825 in It