Which of the Following Assets Is the Most Liquid

question 70

Multiple Choice

Which of the following assets is the most liquid?

• A) An office building
• B) An electric saw for sale by a hardware store
• C) A patent on a new kitchen appliance
• D) A manufacturing plant
• E) An amount receivable from a customer for a service provided

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Definitions:

Internal Revenue Code

A comprehensive set of tax laws established by the United States federal government that governs federal tax obligations.

Client's Communication

Information exchanged between a client and a professional, often protected by confidentiality.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis. Accountants can also act as advisers or consultants on matters related to accounting.

Attorney

A person qualified and authorized to practice law, such as giving legal advice, representing clients in court, and drafting legal documents.