BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A liquid asset is an asset that can easily be converted into cash within a short amount of time.

Detailed explanation-2: -Current assets (also called short-term assets) are assets a business uses, replaces and/or converts to cash within a normal operating cycle (typically less than 12 months).

Detailed explanation-3: -A liquid asset is an asset that can easily be converted into cash in a short amount of time. Liquid assets include things like cash, money market instruments, and marketable securities.

Detailed explanation-4: -A current asset-sometimes called a liquid asset-is a short-term asset that a company expects to use up, convert into cash, or sell within one fiscal year or operating cycle. Non-current assets, on the other hand, are long-term assets that cannot be readily converted into cash within one year.

Detailed explanation-5: -Explanation: Current assets refer to those assets which can be easily converted into cash within a year or 1 month or an accounting cycle. Simply, assets that are converted to cash or consumed within a year are known as current assets and reported on the classified balance sheet of a firm under the assets side.