Author: William Harris

Monetary assets are those assets that are readily available for conversion or have a fixed or determinable value. Monetary assets are short-term assets and are recorded

Inventory means those products, goods, and materials that are held in a business with a vision of manufacturing, selling, and distribution.

The land is an asset that has an infinite life, so land is considered a fixed asset and is recorded in the balance sheet under the heading of non-current assets.

Real estate assets do not fall in the category of liquid assets because these assets take time and cost to convert into cash