Question on: WAEC Accounting - 2016
Assets which are readily convertible into cash are termed as
A
Liquid assets
B
Fixed assets
C
Intangible assets
D
Tangible assets
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Correct Option: A
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.
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