Quick Assets

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Quick Assets

Personal property that is readily marketable.

Quick assets are items, such as jewelry, that can be easily converted to cash for immediate use.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
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The higher QUICK ASSETS are consistent with the agency theory that LT firms are more likely to have agency problems.
For example, the term "Current Assets' replaced "Quick Assets." The valuation account to offset accounts receivable was now the "reserve for bad debts" instead of "provisions for bad debts." In addition, more information on receivables was required on the balance sheet.
Is it reasonable to insist that a firm maintain (or have, on a certain date) a specified ratio of current or quick assets to current liabilities?
(20) Cash to sales (21) Accounts receivable to sales (22) Inventory to sales (23) Quick assets to sales (24) Current assets to sales (25) Working capital to sales (26) Net worth to sales (27) Total assets to sales (28) Cash interval (cash to fund expenditures for operations) (29) Defensive interval (defensive assets to fund expenditures for operations) (30) No credit interval (defensive assets minus current liabilities to fund expenditures for operations) (used as a predictor in this study).
Frequently used are the current ratio (current assets divided by current liabilities) and the quick or acid test ratio (quick assets, such as cash, A/R and marketable securities divided by current liabilities).
Interestingly, the bank loan required the borrower to maintain a specified level of "quick assets," and the portfolio stock served to meet that requirement.