The correct answer to the question is "Emergency fund."
Here's why:
1. An emergency fund is specifically set aside to cover unexpected expenses or financial emergencies.
2. The primary purpose of an emergency fund is to provide quick access to cash when needed.
3. Emergency funds are usually held in liquid assets such as savings accounts or money market accounts.
4. Liquid assets are those that can be easily and quickly converted into cash without significant loss of value.
Therefore, out of the options provided, the emergency fund is the one that refers to how quickly you can convert an asset into cash.
