Which of the following best describes variable assets?

Variable assets refer to assets that can be easily converted into cash or liquidity, such as stocks, bonds, or other investments that fluctuate in value based on market conditions. The correct choice highlights this characteristic by indicating that these are tangible assets that can be quickly turned into cash. This liquidity is a crucial factor for businesses and investors, as it allows them to respond swiftly to financial needs or opportunities.

While the other choices describe different types of assets, they do not accurately capture the essence of variable assets. For example, assets that cannot be easily sold are generally categorized as illiquid, not variable. Fixed interest rates are more associated with debt instruments rather than with the definitions of variable assets, and long-term investments typically imply stability rather than the ability to be quickly converted to cash.

Therefore, the identification of variable assets as tangible assets that can be quickly turned into cash aligns well with their nature and function in financial terms.