Nick Boss has a savings account with $550 in it.He knows that he can withdraw this money whenever he wishes.This would be an example of:
A)money management.
B)a personal possession.
C)a limited asset.
D)a liquid asset.
E)net worth analysis.

Question

Quizplus · Accepted Answer

A liquid asset is one that can be easily and quickly converted into cash without loss of value. In this case, Nick's savings account is a perfect example of a liquid asset since he can withdraw the money whenever he wishes without any penalty or loss of value.

Nick Boss Has a Savings Account with $550 in It