Accounting Dictionary - Letter L

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Liquid asset
is an asset that can be easily exchanged for goods or services (without the loss of value or time). Liquid assets include cash, certificates of deposit (CD) and readily marketable securities. In personal finance, liquid assets may refer to savings and checking accounts, CDs, bonds, money market funds, mutual funds, retirement accounts (401(k), 403(b)), stocks, trust accounts, and cash value of life insurance.
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