Assets which are readily convertible into cash are termed as

  • A Liquid assets
  • B Fixed assets
  • C Intangible assets
  • D Tangible assets
waec 2016accounting

The correct answer is A. Liquid assets

Liquid assets are assets that can be converted into cash in a short time, with little or no loss in value. Liquid assets include items such as accounts receivable, demand and time deposits, gilt edged securities.

Previous question Next question