Liquid Assets Include

question 45

Multiple Choice

Liquid assets include

• A) accounts payable.
• B) equipment.
• C) working capital.
• D) office supplies.

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Definitions:

After-Acquired Property Clause

A provision in a legal agreement that allows a creditor to claim ownership of assets acquired by the debtor after the signing of the agreement.

Financing Statement

A document filed to give public notice that a lender has a security interest in a debtor's assets, typically used in secured transactions.

Enforceable Security Interest

A legal claim or right on property or assets that can be legally upheld by a court to secure the repayment of a debt.

Security Agreement

A legal document that provides security interest in movable assets or personal property by the debtor to the creditor as collateral for a loan.