A(n)________ asset is one that can be quickly converted into cash without significant loss in value.
A)tangible
B)fixed
C)intangible
D)liquid
E)long-term

Question

Quizplus · Accepted Answer

A liquid asset can be quickly converted into cash without significant loss in value. Tangible and fixed assets refer to physical items such as property and equipment, while intangible assets refer to non-physical items such as patents and trademarks. Long-term assets refer to items that cannot be easily turned into cash in the short-term.

A(n)________ Asset Is One That Can Be Quickly Converted into Cash