12:13 SmartBook Chapter 12 Question Completion Status: Starting with the Asset side of the Balance Sheet. There are three main variables in Current Assets. In this class we fill focus on these three variables only. Also, on the asset side of the balance sheet are fixed assets. When we think about assets in finance, we order them from those assets that can be converted quickly into cash as the most liquid and those assets that are slow to be converted into cash as least liquid. Please put the assets below in order from most liquid (1) to least liquid (4) On your own, can you think of a firm with Inventory that might be really slow to convert into cash? Accounts Receivable Property Plant and Equipment Cash and Cash Equivalents Inventory QUESTION 5 10 points Save Answer It is a good time to stop and revisit the definitions of these accounting variables on the asset side of the balance sheet. Match each of the following items with their definition or description. Each item may be matched with 1 or more descriptions. Firm assets held A. Accruals Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers Save and Submit