Assets that are easily convertible into money on short notice are referred to as being
A) adaptable.
B) liquid.
C) diversified.
D) durable.

Question

Quizplus · Accepted Answer

Assets that are easily convertible into money on short notice are referred to as being liquid. Liquid assets are highly liquid and can be quickly and easily converted into cash without significant loss of value. Examples of liquid assets include cash, bank accounts, stocks, and bonds. Adaptable, diversified, and durable are not used to describe assets that can be easily converted into cash.

Assets That Are Easily Convertible into Money on Short Notice