An asset is illiquid if it is not capable of being quickly and easily converted into an amount of cash that reflects the asset's value. Assets for which there is no readily accessible market tend to be illiquid assets. Generally, the closer the asset is to being held in the form of usable cash, the more liquid it is. For example, an account receivable is more liquid (less illiquid) than a piece of machinery, because the receivable will be converted into cash when the obligor of the receivable pays the amount due, while the machinery will first need to be sold before the seller receives payment.