Answered: An asset that can quickly be converted…

An asset that can quickly be converted into cash is known as a(n): a) Intangible asset b) Liquid asset c) Fixed asset d) Contra-asset

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 4CYBK: Which of the following assertions is relevant to whether the cash balances reflect the true...

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An asset that can quickly be converted into cash is known as a(n):
a) Intangible asset
b) Liquid asset
c) Fixed asset
d) Contra-asset

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