Final answer:
A money market account is a highly liquid asset, while long-term bonds and residential real estate are less liquid assets.
Explanation:
A money market account is an example of a highly liquid asset. Money market accounts offer easy access to funds with features like check-writing abilities and debit cards, making them highly liquid.
On the other hand, long-term bonds and residential real estate are considered less liquid assets as they may require time and effort to convert into cash due to fewer potential buyers and the time it takes to sell such assets.
Having high liquidity in assets provides flexibility and quick access to funds for financial needs.
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