What term describes an asset that can be quickly sold without a significant loss in value?

The term that describes an asset that can be quickly sold without incurring a significant loss in value is "liquid asset." Liquid assets are typically those that can be converted to cash quickly and with minimal price fluctuation. Common examples include cash itself, stocks, and bonds, which have established markets for trading.

In contrast, fixed assets represent long-term investments like real estate or equipment that are not easily converted to cash. Intangible assets are non-physical assets such as patents or trademarks that may take time to sell or may not have a clear immediate market value. Non-liquid assets, as distinguished from liquid assets, are those that are not easily sold or exchanged for cash, often requiring more time and may result in a higher risk of depreciation in value.

Understanding the nature of liquid assets is essential in financial contexts, especially for businesses or individuals needing cash flow for operations or emergencies, as it directly impacts liquidity management and financial planning.