General Accounting Mcq An asset that can quickly be converted intocash is known as a(n):- Intangible asset- Liquid asset- Fixed asset- Contra-asset

Explanation of Liquid Asset:A liquid asset is any resource that can be quickly and easily converted…

Answered: An asset that can quickly be converted…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 15DQ

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Similar questions

An asset is said to be fully depreciated when:
Define Asset turnover.
provide an explanation of the concept of asset acquisition cost
Distinguish between current assets and non-current assets, giving TWO examples of each type of asset.
Discuss and explain the tension between “Asset Transformation” and “Asset Conversion”
A right of use asset is initially measured at costs and subsequently measured using the A. Cost model B. Fair value model C. Revaluation model D. Any of these
These include both tangible assets such as (b) and intangible assets such as (c). To pay for these assets, they sell (d) assets such as (e). The decision about ...
Find the "Asset turnover"!
Assets are often classified into current assets, long-term investments, plant assets, and intangible assets. Group of answer choices True False
the amortization of intangible assets with finite useful lives is justified by the : a- economic entity assumption b- going concern assumption c- monetary unit assumption d- historical cost assumption
The term "Fixed Assets" means the same thing as: Multiple Choice Intangible Assets. Current Assets. Natural Resources. Merchandise Inventory. Plant Assets.

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