Which asset is the LEAST liquid?

Name: Which asset is the LEAST liquid?
Brand: Quizplus
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Question

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Ownership of one fourth of a privately held company is the least liquid asset because it is not traded on a market and it is difficult to convert into cash quickly. Cash and checking account balance are highly liquid assets that can be easily converted into cash. Corporate bonds may not be as liquid as cash and checking accounts, but they are still traded on a market and can be sold relatively quickly.

Which Asset Is the LEAST Liquid