If an Asset Can Quickly Be Converted to Cash, It

question 95

Multiple Choice

If an asset can quickly be converted to cash, it is considered to be a(n) :

• A) current asset.
• B) fixed asset.
• C) short-term asset.
• D) other asset.

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Definitions:

Edmund Randolph

An American attorney and politician who served as the first U.S. Attorney General and the seventh Governor of Virginia.

James Wilson

One of the Founding Fathers of the United States and a signatory of the United States Declaration of Independence, as well as a key contributor to the drafting of the U.S. Constitution.

Alexander Hamilton

A Founding Father of the United States, known for being an influential interpreter and promoter of the U.S. Constitution, as well as the founder of the nation's financial system.

Articles of Confederation

The first constitution of the United States, ratified in 1781, which established a national government with limited powers and significant authority granted to the states.