LIQUID ASSET Definition

LIQUID ASSET is cash and any asset that can quickly be converted into cash (e.g., cash, checks and easily-convertible securities).

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VALUATION ALLOWANCE/RESERVE is an allowance to provide for changes in the value of a companys assets, such as depreciation or if an asset is deemed impaired.

BUSINESS ENTERPRISE is a commercial, industrial, service, or investment entity, or a combination thereof, pursuing an economic activity.

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