A(n) ____ Asset Is One Which Can Be Quickly Converted

question 74

Multiple Choice

A(n) ____ asset is one which can be quickly converted into cash without significant loss in value.

• A)current
• B)non-current
• C)intangible
• D)liquid
• E)illiquid

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or transactions, often with the aim of discouraging their use or raising revenue.

Hamburgers

A popular fast-food item typically made of ground beef, chicken, or other meats, served inside a split bun.

Government's Revenue

The total income received by the government from its various sources, including taxes, fees, fines, and other charges, used to fund public services and obligations.

Excise Tax

A type of tax charged on goods produced within the country; it is often levied on items such as alcohol, tobacco, and gasoline.