WAEC - Accounts Principles Of Accounts (2016 - No. 45)

Assets which are readily convertible into cash are termed as

Liquid assets

Fixed assets

Intangible assets

Tangible assets

Explanation

Liquid assets are assets that can be converted into cash in a short time, with little or no loss in value. Liquid assets include items such as accounts receivable, demand and time deposits, gilt edged securities.

WAEC - Accounts Principles Of Accounts (2016 - No. 45)

Explanation

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