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.
Identify the assets that are considered part of the operating process. This typically includes assets such as fixed assets, the accounts receivable currently outstanding, equipment, the balance of cash accounts, and the total inventory that is currently on hand as of the last date of the period under consideration.