Concept:An asset that can be quickly turned into cash without significant loss in value is called a liquid asset.
Explanation:In accounting, assets are classified based on how easily they can be converted into cash.
Liquid assets are those that can be converted into cash within a short period, usually without much loss in value.
Examples include cash in hand, cash at bank, accounts receivable, short-term investments, and marketable securities.
Fixed assets are long-term resources used in business, such as land and machinery, and are not readily convertible into cash.
Intangible assets have no physical form, like goodwill or patents, and may take time to convert into cash.
Tangible assets have physical existence but may not be easily or quickly convertible, depending on their nature.
Since the question asks for assets that are readily convertible into cash, the correct term is liquid assets.
Answer:A. Liquid assets