If Either the Cost Is High or a Substantial Amount

question 5

Multiple Choice

If either the cost is high or a substantial amount of time is needed to convert an asset to money, it is usually referred to as which of these?

• A)illiquid
• B)highly liquid
• C)perfectly liquid
• D)near monies

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Definitions:

Discharged

In legal terms, this means that a debt has been paid off or obligations have been fulfilled, releasing the debtor from further responsibilities.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, outlining terms and conditions of a relationship.

Material Breach

A significant violation of a contract that justifies termination of the agreement by the other party.

Major Difficulties

Challenges or obstacles of significant magnitude that impede progress or achievement.