A present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits.
The ease and speed with which a financial asset can be converted into cash or used to settle a liability. Cash is thus a highly liquid asset. Bank deposits are less liquid, the longer their maturities. The term “liquidity” is also often used as a synonym for money.
A comprehensive agenda of structural reforms aimed at transforming the EU into “the most dynamic and competitive knowledge-based economy in the world”, launched in 2000 by the Lisbon European Council. It has been replaced by the Europe 2020 strategy.