Because Cash Is the Least Liquid Current Asset It Is

question 158

True/False

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

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Definitions:

Unenforceable

A term describing a contract or agreement that, due to certain defects or circumstances, cannot be legally compelled or executed.

Promise

An assurance given by one party to another agreeing to do or not do something in the future.

Agreement in Principle

An initial acceptance indicating a preliminary agreement before the details are finalized.

Binding Contract

An agreement between two or more parties that is legally enforceable in a court of law.