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 Solutions
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