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.
Quick Answer. Liquid cash or liquid assets are a type of asset that can be converted to cash quickly without taking a large impact to the value of the item. Liquid assets are considered to be almost as good as cash reserves because their prices are stable when sold. Continue Reading.