What is the difference between assets and liquid assets? a. all assets represent money, but only liquid assets can be easily turned into spendable money and used to pay debts. b. an asset represents a credit or a positive value, while a liquid asset represents a debit or a negative value. c. assets are money gained from your job, while liquid assets are money gained from sources such as investments or inheritances. d. an asset is owned by you alone, while a liquid asset is shared among several people, such as a married couple or a group of investors.