Which of the Following Is the Most Liquid Asset

question 213

Multiple Choice

Which of the following is the most liquid asset?

• A) money
• B) land
• C) a government bond
• D) a share of stock

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Definitions:

Periodic Inventory System

An inventory accounting system where updates are made to inventory levels and cost of goods sold at specific periods.

Worksheet

A document used by accountants to bring together all the data for financial statements, making adjustments and closing entries.

Mortgage Payable

A liability account on a company's balance sheet that represents funds borrowed, secured by property, to be paid back with interest.

Balance Sheet

An economic report that presents the value of a corporation’s assets, liabilities, and equity held by shareholders on a given date.