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

A liquid asset is one which can be quickly converted into cash without significant loss in value. Examples of liquid assets are cash and cash equivalents, marketable securities, and certain types of investments. Current assets are assets that are expected to be converted into cash within one year, including both liquid assets and assets such as accounts receivable. Fixed assets are long-term assets that are used to help generate revenue and include things like property and equipment. Intangible assets refer to non-physical assets, such as intellectual property or brand recognition. Long-term assets are assets that are expected to be held for more than one year, such as long-term investments or property.

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