The Most Liquid Asset Is

question 151

Multiple Choice

The most liquid asset is:

• A)Sales.
• B)Cash.
• C)Accounts payable.
• D)Owners' equity.

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Definitions:

Assignee

A person to whom an assignment is made.

Obligor

In contract law, the party who is obligated to deliver on a promise or to undertake some act.

Assignment

A legal transfer of rights, benefits, or obligations from one party to another.

Quantum Meruit

is a Latin term meaning "as much as he has earned," used in legal contexts to describe the entitlement to be paid for services rendered or work done when no contract exists or where a contract exists but cannot be enforced.