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

question 30

Multiple Choice

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

• A) current
• B) fixed
• C) intangible
• D) liquid
• E) long-term

Understand the principles of enforceability for noncontractual promises based on justifiable reliance.

Recognize when a contract is voidable due to material misrepresentation.

Identify the characteristics and formation of implied in fact contracts and express contracts.

Describe the basic requirements for a valid contract including the necessity of absence of invalidating conduct.

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Definitions:

Stage Fright

Anxiety, fear, or persistent phobia which may be aroused in an individual by the requirement to perform in front of an audience.

Specific Phobia

An intense, irrational fear of or anxiety towards an object or situation, leading to avoidance behavior.

Social Phobia

A chronic mental health condition characterized by an intense fear or anxiety of social situations.

Psychological Disorder

A syndrome characterized by clinically significant disturbance in an individual's cognition, emotion regulation, or behavior.