Which Is the Most Liquid Form of Asset

question 248

Multiple Choice

Which is the most liquid form of asset?

• A) cash
• B) accounts receivable
• C) inventory
• D) supplies

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Definitions:

Unbilled Consulting Revenue

Revenue earned from consulting services that have been delivered but not yet invoiced to the client.

Depreciation

The allocation of the cost of a tangible asset over its useful life, reflecting its loss of value over time.

Supplies Expense

Costs associated with the consumable items used during a company's operations over an accounting period.

Journalized

The process of recording transactions in a company's journal as part of the accounting system.