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Because Cash Is the Least Liquid Current Asset It Is

question 158

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Because cash is the least liquid current asset it is listed last in the current assets section of the statement of financial position.


Definitions:

State Legislature

A governmental body in each state responsible for creating and passing state laws.

Licensing

A government’s official act of granting permission to an individual, such as an attorney, to do something that would be illegal in the absence of such permission.

Wrongful Act

An action that is legally incorrect or unjust, often forming the basis of a civil lawsuit or criminal prosecution.

Damages

Money awarded as a remedy for a civil wrong, such as a breach of contract or a tortious act.

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