passwella.
Menu

WAEC Financial Accounting 2016 Question 45

Question 45

Final Accounts of a Sole Trader

Assets which are readily convertible into cash are termed as

  1. A.liquid assets.
  2. B.fixed assets.
  3. C.intangible assets.
  4. D.tangible assets.
Show the answer and explanation

Answer: A (liquid assets.)

Explanation

Assets that can quickly be turned into cash are liquid assets.