Liquid assets are held in order to Group of answer choices make everyday transactions. build reserves for future planned expenditures. meet recurring household expenses. All have money for emergency expenditures

Liquid assets are held in order to Group of answer choices make everyday transactions. build reserves for future planned expenditures. meet recurring household expenses. All have money for emergency expenditures

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Liquid assets are held in order to

Group of answer choices

make everyday transactions.

build reserves for future planned expenditures.

meet recurring household expenses.

All

have money for emergency expenditures

Expert Solution

Step 1

Liquid assets are those current assets which can be easily liquidated into cash. It includes cash, cash equivalents, short term marketable securities etc.

Step by step

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