Chapter: Analysis of Financial Statements· Book-Keeping & Accountancy

Write a word / term / phrase as a substitute for the following statement: An asset which can be converted into cash immediately.

Q.1 (C) (1) Write a word / term / phrase as a substitute for the following statement: An asset which can be converted into cash immediately.

Doubtly Asked 29 Oct 2026 Board exam · July 2024 hsc 12th Save WhatsApp Report

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Answer: Liquid asset

Assets such as cash, bank balance, debtors and bills receivable, which can be converted into cash immediately or at very short notice without loss of value, are called liquid (quick) assets.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report

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Write a word / term / phrase as a substitute for the following statement: An asset which can be converted into cash immediately.

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