3. Rights and obligations.
Explanation:
This evidence is in support of relevant financial statement assertions about existence or occurrence and Rights and obligations. Even though a specific confirmation request does not test all assertions equally well. Especially since more than one agent may be holding securities for a single client which may or may not be specified within the request.
Marketability: The likelihood that something will sell; market appeal.
The house has high marketability.
Liquidity: (uncountable) The state or property of being liquid.
(economics, countable) An asset's property of being able to be sold without affecting its value; the degree to which it can be easily converted into cash.