ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable; securities and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (as opposed to liabilities).

Detailed explanation-2: -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. Both individuals and businesses can be concerned with tracking liquid assets as a portion of their net worth.

Detailed explanation-3: -Current assets are short-term assets that can be used or converted into cash within one year. Current assets include cash and cash equivalents, accounts receivable, inventory, marketable securities, prepaid expenses, and office supplies.

Detailed explanation-4: -A liquid asset is an asset that can easily be converted into cash within a short amount of time.

Detailed explanation-5: -Current assets are short-term assets that can be used up or converted to cash within one year or one operating cycle.