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Friday, April 14, 2006

Asset

Anything of value that can be converted into cash

Assets come in all sorts of shapes and sizes, including, land, investments and personal property. Even an antique ring or string of pearls is an asset it is anything that can be turned into cash. If an asset can easily convert into cash, like stocks, it is called a liquid asset. A home is not liquid since it can take a while to sell.
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