Liquid assets that are close substitutes for money are known as

Question

Quizplus · Accepted Answer

Near moneys are liquid assets that are close substitutes for money, such as savings accounts, marketable securities, and short-term government bonds. They can be easily and quickly converted into cash and used as a medium of exchange, although they are not considered actual money. Far moneys refer to less immediately liquid assets, such as real estate or long-term investments, that are not suitable as substitutes for actual money. Deposits can also refer to near moneys, but they specifically refer to money that is placed into a bank account for safekeeping or to earn interest.

Liquid Assets That Are Close Substitutes for Money Are Known