Maharashtra State BoardHSC Arts 12th Board Exam
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An Asset Which Can Be Converted into Cash Immediately. - Book Keeping and Accountancy

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One Word Answer

Give one word/term/ phrase for the following statement.

An asset which can be converted into cash immediately.

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Solution

An asset which can be converted into cash immediately. - Liquid Asset

Explanation: Those assets of the business that can be converted into cash immediately are known as liquid assets. They are highly liquid in nature and are also known as quick assets.
Concept: Concept of Financial Statement Analysis
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APPEARS IN

Balbharati Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board
Chapter 9 Analysis of Financial Statements
Exercise 9 (Objective Questions) | Q B. 5. | Page 375
Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 12 Analysis of Financial Statements
Exercise | Q 6 | Page 385

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