Air is mainly composed of nitrogen, oxygen, and argon, which together constitute the major gases of the atmosphere. Water vapor accounts for roughly 0.25% of the atmosphere by mass.
Physical property, such as real estate, does not qualify due to the unpredictable length of the sales process. As retirement accounts, 401(k)s and IRAs operate both as liquid assets and non-liquid assets depending on the circumstance.
RELATED TERMS. 1  Liquid Asset An asset that can be converted into cash quickly and with minimal 2  ... Overall Liquidity Ratio A measurement of a companyâs capacity to pay for its liabilities 3  ... Current Assets A balance sheet account that represents the value of all assets ...