The one way that economics can influence your daily life by forcing a decision is "to help you understand that every choice has a tradeoff. "
Economic influences can affect decision-making in people. The one way that economics can influence to force people to make a decision in their daily life that is the economy helps them to understand that every choice has a tradeoff.
It is because the resources are finite so that people must choose the best alternative by foregoing the other options. Thus, in everyday life, people make the best judgments in this manner which is a way economic helps them to make decision.
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Which of these describes one function of a household in the economy? buys finished products sells finished products taxes finished products exports finished products
The function of a household in the economy is the buys finished goods.
How do household impact the economy?Through their basic and daily needs for the maintenance of quality of life, families drive the economy through their purchase needs and desires, generating demand for products and services.
Therefore, households impact the economy by determining demand that will drive supply.
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Answer:
Buys finish product
Explanation:
Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $105,000. Not included in the computation was a disallowed meals expense of $2,000, tax-exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for year 1 would be:
The corporation's current earnings and profits for year one would be (A) $354,000.
What is taxable income?The base on which an income tax system levies tax is referred to as taxable income. In other words, the income is subject to taxation by the government. In general, it includes some or all elements of income before costs and other deductions are deducted. Income, costs, and other deductions differ depending on the country or system. Many systems stipulate that certain types of income are not taxable (also known as non-assessable income) and that certain expenses are not deductible when calculating taxable income. Some systems base tax on current-period taxable income, while others base it on prior-period taxable income.To find the current earnings and profit for one year:Income + Installment sale = 500,000 + 25,000 = $525,000
Income taxes + tax-exempt income = 170,000 + 1000 = $171,000
525,000 - 171,000 = $354,000
Therefore, the corporation's current earnings and profits for year one would be (A) $354,000.
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Complete question:
Grand River Corporation reported taxable income of $500,000 in year 1 and paid federal income taxes of $170,000. Not included in the computation was a disallowed meal and entertainment expense of $2,000, tax-exempt income of $1,000, and deferred gain on an installment sale of $25,000. The corporation's current earnings and profits for year 1 would be:
A) $354,000.
B) $524,000.
C) $500,000.
D) $331,000.
Who would be hurt by unanticipated inflation?
a. those living on incomes with cost-of-living adjustments
b. those who find prices rising less rapidly than their nominal incomes
Those who lent money at a fixed interest rate would be hurt by unanticipated inflation. Therefore, OPTION 'C' is the answer.
Unexpected inflation transfers wealth randomly from one group to another, for as from lenders to borrowers.
People frequently take the rate of inflation into account when deciding whether to lend or borrow money.
The amount of interest paid or collected will differ from what was anticipated if the rate of inflation is higher or lower than projected.
Unexpected inflation hurts lenders because the money they receive in repayment has lower purchasing power than the money they put out.
Unexpected inflation benefits borrowers since the amount they repay is less valuable than the amount they borrowed.
Hence, the correct option is 'C'.
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What value do businesses using the tbl bring to society, and how might society be impacted if tbl were not a common business practice?
Profit, people and planet are the values do businesses using the TBL bring to society.
Especially in today's marketplace, companies that focus on social and environmental responsibility can also boost that more traditional metric: profit. "Using the TBL framework opens up many chances to increase revenues, decrease costs and build loyalty," Horowitz said.
The triple bottom line is a framework for change that businesses and other organizations can use to assist them transition to a more sustainable and regenerative future. The triple bottom line includes tools that assist in measuring, benchmarking, setting goals, enhancing, and finally evolving toward more sustainable systems and models.
The TBL "captures the essence of sustainability by quantifying an organization's influence on the world, including its profitability and shareholder values, as well as its social, human, and environmental capital.
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In most countries, what is the proportion of women in the early stage of entrepreneurship as compared to men
Most of the countries have a similar proportion of men and women in the early stage of Entrepreneurship.
What is Entrepreneurship?An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. Entrepreneurship is the practice of starting a business. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods. Entrepreneurs are essential to any economy because they have the knowledge and drive to foresee requirements and sell viable new ideas. Entrepreneurship that succeeds in assuming the risks involved in founding a firm is rewarded with money, notoriety, and chances for future growth. Failure in entrepreneurship leads in losses and diminished market presence for individuals engaged.An economic growth engine are entrepreneurs. Entrepreneurs of both sexes can stimulate innovation, generate jobs, raise productivity, increase competitiveness, and increase wealth.
Therefore, Most of the countries have a similar proportion of men and women in the early stage of Entrepreneurship.
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If a U.S. corporation sells a product in Europe and uses the proceeds to purchase shares in a European corporation, then U.S. net exports ______ and net capital outflows ______. a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decrease
a. increase; increase
U.S. net exports increase and net capital outflows increase if a U.S. company sells a product in Europe and uses the revenues to buy stock in a European company.
What are the net exports of America?The United States' net exports for 2019, the most recent year for which data is available, totaled 11.7 percent of GDP, while net imports made up 14.6 percent of GDP. Therefore, the United States likewise experienced a trade imbalance, with a deficit of -2.9 percent.
What sort of exports are net exports?The net number takes into account a wide range of exported and imported goods and services, including automobiles, consumer goods, movies, and other items. A country's net exported products are $200 billion - $185 billion ($15 billion) if it exports $200 billion in goods and imports $185 billion in goods (exports > imports).
Is food a net export from the US?The United States continues to enjoy undisputed dominance in the culinary world. The top producer and exporter of food worldwide is the United States.
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pls refer to photo thank you!
If purchasing power parity holds, when a country's central bank decreases the money supply, its:_____.
A. price level rises and its currency appreciates relative to other currencies in the world. B. price level rises and its currency depreciates relative to other currencies in the world. C. price level falls and its currency appreciates relative to other currencies in the world. D. price level falls and its currency depreciates relative to other currencies in the world.
If purchasing power parity holds, when a country's central bank decreases the money supply, its If purchasing power parity holds, when a country's central bank decreases the money supply, its price level (rises/falls) and its currency (appreciates/depreciates) relative to other currencies in the world.
A theory of exchange rate determination and a means to compare average prices of goods and services between nations is purchasing power parity (PPP).
According to the hypothesis, fluctuations in the spot exchange rate are caused by importers' and exporters' actions, which are prompted by variations in prices across nations.
Alternatively, PPP contends that changes to a nation's current account may have an impact on the value of the currency's exchange rate on the foreign exchange (Forex) market.
In contrast, the interest rate parity theory postulates that fluctuations in the exchange rate are caused by investor actions (whose transactions are reported on the capital account).
The "law of one price" as it pertains to the overall economy is the foundation of PPP theory.
Hence, option A and D is correct.
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On June 30, 2024, the Esquire Company sold some merchandise to a customer for $54,000. In payment, Esquire agreed to accept a 7% note requiring the payment of interest and principal on March 31, 2025. The 7% rate is appropriate in this situation. Required: 1. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold), the December 31, 2024 interest accrual, and the March 31, 2025 collection. 2. If the December 31 adjusting entry for the interest accrual is not prepared, by how much will income before income taxes be over- or understated in 2024 and 2025?
The income before income taxes is 2024 understated by $1,890 and 2025 overstated by $1,890.
Income before taxesEsquire Company journal entries
June 30, 2024
Debit Note receivable $54,000
Credit Sales $54,000
Dec 31, 2024
Debit Interest receivable $1,890
Credit Interest Income $1,890
($54,000 x 7% x6/12)
March 31, 2025
Debit Cash $56,835
Credit Interest receivable $1,890
Credit Interest income $945
($54000 x 7% x 3/12 )
Credit Note Receivable $54,000
Therefore the income before income taxes is 2024 understated by $1,890 and 2025 overstated by $1,890.
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Brenda says her assets are definitely greater than her liabilities. Which explains whether Brenda is correct
Brenda says her assets are definitely greater than her liabilities .Brenda is mistaken since it is possible that the entire worth of all of her assets is lower than the value of all of her obligations. This is further explained below.
What is assets?Generally, assets are economic resources owned or controlled by individuals, corporations, or countries with the idea that they will provide a future financial advantage.
In conclusion, Brenda asserts that her assets are far more than her obligations at this time. Brenda is erroneous because it is conceivable that the whole value of all of Brenda's commitments is more than the total value of all of Brenda's assets combined.
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On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per bike.
Total revenue when the market price is,
% CHANGE IN DEMAND=(42-48)/[(42+48)/2]=13.33
% change in Price=(125-100)/[(125+100)/2]=22.22
Ep=13.33/22.22
=0.59~0.6
inelastic
decrease
inelastic.
Your annual income is the amount your business earns from selling during the year. This does not include costs and costs. To calculate annual sales, multiply the quantity of each product you sell by the retail price, then add the annual sales of each product to get the total annual sales.
Sales are the total amount of annual revenue generated from the sale of goods or services related to a company's main activities. Income or net income is the total profit or profit of the business. Both sales and net income help determine a company's financial strength, but they are incompatible.
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A very useful guide for making investment decisions is: The shorter the payback period, the more profitable the project. Group starts
A very useful guide for making investment decisions is: The shorter the payback period, the more profitable the project: The shorter payback period makes the investment attractive but it isn't sure that it will be profitable.
An investment decision is a well-planned action that allocates financial resources to acquire the highest possible return
Investment decision taken by individual concern is of national importance because it determines employment, economic activities, and economic growth.
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Suppose the economy is in long-run equilibrium. if there is a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real gdp will:______
If there is a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real gdp will fall & price level might rise, fall, or stay the same and in the long run, the price level might rise, fall, or stay the same but real GDP will be lower.
What is a minimum wage?This refers to the lowest remuneration that an employers can legally pay their employee as the the price floor below which employees may not sell their labor.
The effect of this on economy is noted as a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real gdp will fall & price level might rise, fall, or stay the same and in the long run, the price level might rise, fall, or stay the same but real GDP will be lower.
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Suppose a doctor spends half of the year in the United States and the other half in Canada and works in both places. How does his production get allocated between U.S. and Canadian GNP
The GDP of the United States includes the value of services generated there, while the GDP of Canada includes the value of services produced there.
The Value of the services produced in the united states is counted in U.S.GDP and the vale of services produced in canada are counted in Canadian GDP , thus if a doctor spends half the year working in the United states and half in Canada , his production is distributed accordingly.
GDP - Gross Domestic Product - It measures the monetary value of final goods and services - that is, those that are bought by final user-produced in country in a given period of time . United states is having highest GDP
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A deliverable at the lowest level of each branch of a work breakdown structure is known as:________.
A deliverable at the lowest level of each branch of a work breakdown structure is known as: Work Packages
The work breakdown structure (WBS) in project management and systems engineering is the deliverable division of a project into smaller components. The work breakdown structure is an important workable project that organizes a team's work into manageable chunks. The Project Management Knowledge Body (PMBOK 5) defines a work breakdown structure as "the hierarchical breakdown of the total scope of work that the project team will perform to achieve the project objectives and create the necessary jobs".
A Work Package is a group of related tasks in a project. Because they look like projects themselves, they are often thought of as subprojects within a larger project. Work packages are the smallest unit of work that a project can be broken down into when creating your work breakdown structure (WBS). Tasks are often grouped into work packages based on geography, engineering majors, technology, or the time it takes to complete them.
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What are the main advantages of the d-step tuning of 2023 murano’s xtronic cvt?.
The xtronic CVT of the 2023 Murano's key benefits of d-step tuning is that
It allows the gearbox to shift gears fast in response to sudden acceleration.
The use of linear acceleration sense aids in stepped acceleration while at greater rpm.
What type of transmission does Murano Xtronic CVT have?It is claimed to include a continuously variable automatic gearbox (CVT), and its single engine is a 3.5-liter V-6 that contributes to the production of a significant amount of power. The primary benefits of the 2023 Murano's xtronic cvt's d-step tuning are as follows. It allows the gearbox to shift gears fast in response to sudden acceleration.
The use of linear acceleration sense aids in stepped acceleration while at greater rpm.
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The economy of finlandia is at full employment when
The economy of Finlandia is at full employment when there is some unemployment due to friction in the labor market, but there is no cyclical unemployment.
The Finnish economy is a highly industrialized mixed economy, with per capita production similar to that of Western European economies such as France, Germany and the United Kingdom. The largest sector of the Finnish economy is 72.7% service, followed by 31.4% manufacturing and refining.
Finland's economic freedom score is 78.3. That economy is the ninth free in the 2022 index. Finland ranks 6th out of 45 countries in Europe, with an overall score above the regional and global averages. Finland's economic growth turned negative in 2020, but recovered in 2021.
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Assignments in which there is a mismatch between an employee's skills and past experiences and the skills required for success on the job are known as:______
Assignments in which there is a mismatch between an employee's skills and past experiences and the skills required for success on the job are known as stretch assignment
A stretch assignment is a work or project that is currently above your level of expertise or understanding.
By putting you in a difficult situation where you might learn and progress, such tasks help to "stretch" your development. Stretch assignments are short-term internal learning jobs that give employees the chance to learn new skills while also assisting their company in resolving a pressing business issue. Stretch assignments are most frequently used to assess an employee's level of expertise or aptitude for a different function, engage a high performer, promote skill development, or prepare an employee for an imminent promotion.
Stretch assignment recipients will need more assistance, direction, and motivation than regular employees. Although the work is worthwhile because stretch assignments boost employee engagement, morale, satisfaction, level of expertise, and achievement—all of which contribute to your success as their leader.
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A large company has several data collections across its many departments. what kind of metadata indicates exactly how many collections a piece of data lives in?
A large company has several data collections across its many departments. what kind of metadata indicates exactly how many collections a piece of data lives in Structural metadata
This is further explained below.
What is Structural metadata?Generally, Metadata that identifies the sorts of digital assets, as well as their versions, connections, and other properties, is referred to as structural metadata (Arms, Blanchi, and Overly 1997). Other information that is linked with the particular version is a part of the digital object's structural metadata. This metadata refers to individual versions of digital objects.
In conclusion, A major firm has multiple data collectors across its various divisions. How many different collections do a particular piece of data reside in, and what type of metadata reveals this? Structural metadata
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Which loan type requires the borrower to repay a single lump sum payment at some time in the future with interest
Pure Discount is the loan type that requires the borrower to repay a single lump sum payment at some time in the future with interest.
What is pure discount loan?
The simplest type of loan is a pure discount loan. The borrower receives funds now and makes a single, lump-sum repayment of the loan's principal and interest in the future. With interest-only loans, the full amount is repaid when the loan matures, along with a periodic interest payment.
What is pure discount bonds?
Bonds that trade at a discount to their face value and don't pay any interest are known as zero-coupon bonds. Another name for it is a deep discount bond or a pure discount bond.
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The size and cut of a diamond allows people looking at a ring to roughly estimate its cost and make a judgment about the wearer's economic status. A diamond is a
The answer is the Status symbol.
A status symbol is typically an object meant to symbolize the high social and financial position of its owner.
Status symbols frequently vary as a culture and its ideals evolve.
Different status symbols may also be dictated by one's line of work, and some uniform designs may be interpreted as status symbols.
Status symbols in capitalist society are frequently connected to material prosperity. Status symbols might alter depending on where they are used.
For instance, a physical scar may signify honor or bravery in cultures where warriors are revered, becoming a status symbol.
Hence, in the given scenario where the size and cut of a diamond allow people looking at a ring to roughly estimate its cost and make a judgment about the wearer's economic status. A diamond is a status symbol.
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There can be infringement of patents, copyrights, trademarks, trade names and trade dress. True False
True, there can be an infringement of patents, copyrights, trademarks, trade names, and trade dress.
The diverse forms of patent infringement occur whilst someone or business makes use of parts of a patented concept, approach, or device without permission. Patent infringement is also known as patent violation or even stolen thoughts. It could contain either the usage of or promotion of the patented invention or concept.
Being accused of patent infringement can be severe and feature grave results. You may be chargeable for damages, which include lost income or reasonable royalties, perhaps even lawyers' expenses or treble damages. You can even be a problem with an injunction. There are, however, some defenses to such an accusation.
Patent Infringement is the violation of a patent proprietor's rights with admire to a few invention. Except accepted by means of the patent proprietor, one commits paten infringement by means of making, using, imparting to promote, or selling some thing that includes every element of a patented declaration or its equal even as the patent is in impact.
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According to peter drucker, what are managers who do the right things addressing? both efficiency and effectiveness effectiveness customer satisfaction only efficiency
Effectiveness. Effectiveness is doing the right things, not just doing things efficiently. While increasing efficiency means doing things faster, with fewer resources, and in fewer steps, increasing effectiveness means aligning improvements to how you work with high-level corporate goals.
Instead of efficiency for the sake of efficiency, increasing effectiveness necessitates a more focused and strategic approach. Both are critical components of a leader's journey to success and avoid becoming bogged down. It is critical for the leaders who want to invest in right things rather than relying on magic to achieve right balance of effectiveness and efficiency in their work.
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If the market is efficient and securities are priced fairly, all securities will have the same:______
Reward to risk ratio for all the securities will be constant, if the market is efficient and securities are priced fairly. According to the efficient market hypothesis (EMH) or theory, share prices accurately reflect all available information. Equities, according to the EMH, trade on exchanges at their fair market value.
Investors, according to EMH proponents, benefit from investing in a low-cost, passive portfolio. EMH detractors argue that securities can deviate from fair market values and that outperformance of market is possible. In theory, neither technical nor fundamental analysis can consistently provide risk-adjusted excess returns, and inside information is only source of outsized risk-adjusted returns.
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Access your reading here to learn how local and state government polices influence the economy. in a paragraph or two, explain how local and state government polices influence the economy. discuss the pros and cons of at least two examples from the article.
Local and state government polices can influence the economy by fiscal policy.
Fiscal policyFiscal policy is the policy of government spending and tax to impact the economy. Governments generally use fiscal policy to encourage strong and sustainable growth and decrease poverty.
Local and state government policiesLocal governments are critical actors in economic development in India. Ideally, they play a significant role in the execution of national economic development programs, and they seek local economic development policies to support economic growth.
State economic development policies need to hit a balance. They require to be aligned with national economic policy preferences, but they also need to be adjusted to the local context.
Pros:-Little area to observe and manage
-Familiarity by the government with the region
Cons:- Regulations may be misaligned with the National or Regional Level
-If the Local Government is corrupt, there will be a major hindrance to the development
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Hannah has been researching sales of garden supplies. She wants to show the pattern that sales follow over the course of a year. Which type of graphic would be most effective
A line graph would be more effective.
A line graph is a form of chart used to show information that adjustments over time. We plot line graphs the usage of numerous factors related by way of straight strains. We also name it a line chart. the line graph accommodates of two axes referred to as the 'x-axis and 'y' axis.
Line graphs are used to tune adjustments over brief and long intervals of time. when smaller changes exist, line graphs are higher to apply than bar graphs. Line graphs also can be used to compare changes over an equal time frame for multiple groups.
A line graph, also known as a line chart, is a form of chart used to visualize the cost of something over time. as an instance, a finance department might also plot the alternate in the number of coins the corporation has handy through the years. The line graph includes a horizontal x-axis and a vertical y-axis.
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Emma deposited $500 in a savings account at her bank. Her account will earn an annual simple interest rate of 9%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 11 years
$995.00 she will have in her account in 11 years
Future Value = Present Value + Present Value * Interest Rate * Time Period
Future Value = $500 + $500 * 0.09 * 11
Future Value = $995.00
Simple interest is a quick and easy way to calculate interest on a loan. Simple interest is calculated by multiplying the daily interest rate by the principal and multiplying by the number of days elapsed between payments.
Simple Interest (SI) is a method of calculating the amount of interest on a particular principal at a particular interest rate. For example, when a person takes out an Rs loan. At a rate of 5000, 10 p.a. for 2 years, the interest for a person for 2 years is SI. To the borrowed money.
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Critics of labor unions argue that unions are no longer needed to protect workers from abusive and unfair treatment because
Critics of labor unions argue that unions are no longer needed to protect workers from abusive and unfair treatment because laws and modern management attitudes minimize the possibility of unsafe working conditions and unfair treatment of workers found in earlier eras.
This is further explained below.
What are labor unions?Generally, a group of employees is created to advance their interests in terms of pay, benefits, and working conditions. Members of a labor union have job security under a collective bargaining agreement with the employer.
In conclusion, Critics of labor unions argue that the organizations are no longer necessary to protect workers from unsafe working conditions and unfair treatment of workers because laws and modern management attitudes have reduced the likelihood of unsafe working conditions and unfair treatment of workers, both of which were more prevalent in earlier eras.
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If you know that inflation will be 2% next year and you want to receive a 3% increase in your real salary, then you should request that your nominal salary be increased by:
If you know that inflation will be 2% next year and you want to receive a 3% increase in your real salary, then you should request that your nominal salary be increased by: 5 percent.
How to solve for the nominal salaryWe have to do this through the use of Fishers equation.
This equation is given as inflation + real rate.
We have to input these dates.
The rate of inflation is 2 percent
The real rate is 3 percent
Hence the nominal salary would be
2 + 3
= 5 percent.
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An asset's ______ is the ease with which it can be converted quickly into the most widely accepted and easily spent form of money, cash, with little or no loss of purchasing power.
An asset's liquidity is the ease with which it can be converted quickly into the most widely accepted and easily spent form of money, cash, with little or no loss of purchasing power.
What is Asset Liquidity?When a financial asset is bought or sold, its liquidity relates to how quickly it may be transformed into cash. The ability to move cash quickly and readily without affecting its market value makes it the asset with the highest liquidity.An asset is considered to be liquid if it can quickly and easily be turned into cash. Cash, instruments from the money market, and marketable securities are examples of liquid assets. Keeping track of the liquid assets that make up a component of one's net worth can be a worry for both individuals and organizations. A company's liquid assets are recorded as current assets on its balance sheet for financial accounting reasons.To learn more about the Asset's Liquidity refer to:
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The answer is liquidity of the asset.
When an asset is purchased or sold, its liquidity relates to how readily it may be changed to cash. Cash is the most liquid asset since it can be traded fast and readily without affecting its market value.
Liquidity is defined as having enough cash on hand to satisfy financial obligations. Cash or the property that can be easily converted to cash without suffering a significant loss in value are examples of liquid assets. Higher the liquidity better it is .
Therefore, the answer is asset's liquidity.
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