Increasing Transactions Costs of Selling an Asset Make the Asset

question 25

Multiple Choice

Increasing transactions costs of selling an asset make the asset

• A)more valuable.
• B)more liquid.
• C)less liquid.
• D)more moneylike.

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Definitions:

Account

An account is a record within an accounting system that is used to store financial transactions of a particular type, such as assets, liabilities, equity, revenues, and expenses.

Withdrawals

Money or other assets taken out from a business by its owner(s) for personal use.

Accounts Receivable

The financial claim a company holds against its customers for sales made on credit, indicating future cash inflows.

Account

A record summarizing all the transactions pertaining to a specific item in the financial statements.