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.
Examples of assets that are usually classified as current assets on a company's balance sheet include: 1  cash, which includes checking account balances, currency, and undeposited checks from customers (that are not postdated) 2  petty cash. 3  cash equivalents, such as government securities which were purchased within 90 days of their maturity.