Assets that are used relatively quickly (within a single accounting period) are called short-term or assets.  (Enter only one word per blank.)

Quick assets are defined as:Multiple ChoiceCash, short-term investments, and accounts payable.Cash, short-term investments, and current receivables.Cash, inventory, and current receivables.Cash, noncurrent receivables, and prepaid expenses.Accounts receivable, inventory, and prepaid expenses.

Long term assets without any physical existence but, possessing a value are calledA) Intangible assetsB) Fixed assetsC) Current assetsD) Investments

Quick assets (cash, short-term investments, and current receivables) divided by current liabilities is the:Multiple ChoiceAcid-test ratio.Current liability turnover ratio.Current ratio.Working capital ratio.Quick asset turnover ratio.

he assets which are convertible into cash or cash equivalents within a year are known as _________.Fixed assetsCurrent assetsTangible assetsNone of the above

Short-term investments include:Multiple ChoiceNoncurrent assets.Investments in land or other assets not used in operations.Securities that management intends to convert to cash within one year or the operating cycle, whichever is longer, and are readily convertible to cash.Bonds not intended to be converted into cash.Stocks not intended to be converted into cash.