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Which of the following are characteristics of a liquid asset? I. Can be converted into cash quickly. II. Can be converted into cash with little

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Which of the following are characteristics of a liquid asset? I. Can be converted into cash quickly. II. Can be converted into cash with little or no loss in value. III. Can be included in Shareholder Equity. 1) I and II only 2) II and III only 3) III only 4) I and III only

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