Least liquid assets: Least liquid assets are noncurrent assets which are not likely to be converted into cash and cash equivalent within one accounting period. These are long term assets having a operational life of more than one accounting period. Most liquid assets: Most liquid assets are those current assets , conversion of which in to cash and cash equivalents are estimated to be in a year. Liabilities furthest from maturity: Liabilities furthest from maturity are the long term liabilities which are not likely to be discharged within a time frame of one year. It means they are not due to be matured in the following accounting period. Liabilities nearest to maturity: Liabilities nearest to maturity are short term liabilities which are due to be matured within a year. To identify: a. Proper order of liquid assets under of IFRS. b. Proper order of liabilities on basis of maturity period under IFRS.

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Chapter 3, Problem 28QS

To determine

Least liquid assets:

Least liquid assets are noncurrent assets which are not likely to be converted into cash and cash equivalent within one accounting period. These are long term assets having a operational life of more than one accounting period.

Most liquid assets: Most liquid assets are those current assets , conversion of which in to cash and cash equivalents are estimated to be in a year.

Liabilities furthest from maturity: Liabilities furthest from maturity are the long term liabilities which are not likely to be discharged within a time frame of one year. It means they are not due to be matured in the following accounting period.

Liabilities nearest to maturity: Liabilities nearest to maturity are short term liabilities which are due to be matured within a year.

To identify: a. Proper order of liquid assets under of IFRS.

b. Proper order of liabilities on basis of maturity period under IFRS.

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