An Asset Is Considered to Be Liquid If

question 50

Multiple Choice

An asset is considered to be liquid if:

• A) it is readily converted into a current asset.
• B) it is an intangible asset.
• C) it is readily converted into cash.
• D) it is part of retained earnings.

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Definitions:

Commerce

The activity of buying and selling, especially on a large scale.

Revolutionary War

The conflict between the Thirteen American colonies and British monarchy from 1775 to 1783, which resulted in the founding of the United States of America.

Tax Rate

The percentage at which an individual or corporation is taxed by the government, often varying by income or value.

Suspicious Alliances

Partnerships or agreements that may raise concerns or doubts about the motives or intentions of the involved parties.