Answer: a. True
Assets that are readily converted into cash are termed liquid assets.
Explanation:
Liquid assets refer to cash or any other asset that can be readily converted to cash without any loss in its value. For an asset to be term liquid, it must be in an established market, with a lot of interested buyers and with the capability of ownership to be transferred easily. Examples of assets that are liquid include: cash, checking or savings accounts, certain types of investments and so on. Liquid assets are used by businesses and consumers.