We have developed an on-line computer-controlled sensor, based on ultrasound reflection measurements, to determine the product of the viscosity and density of a liquid or slurry for Newtonian fluids and the shear impedance of the liquid for non-Newtonian fluids. A 14 MHz shear wave transducer is bonded to one side of a 45-90 degrees fused silica wedge and the base is in contract with the liquid. Twenty-eight echoes were observed due to the multiple reflections of an ultrasonic shear horizontal (SH) wave within the wedge. The fast Fourier transform of each echo was obtained for a liquid and for water, which serves as the calibration fluid, and the reflection coefficient at the solid-liquid interface was obtained. Data were obtained for 11 sugar water solutions ranging in concentration from 10% to 66% by weight. The viscosity values are shown to be in good agreement with those obtained independently using a laboratory viscometer. The data acquisition time is 14s and this can be reduced by judicious selection of the echoes for determining the reflection coefficient. The measurement of the density results in a determination of the viscosity for Newtonian fluids or the shear wave velocity for non-Newtonian fluids. The sensor can be deployed for process control in a pipeline, with the base of the wedge as part of the pipeline wall, or immersed in a tank.