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Term: Quick Assets

Definition: Quick assets refer to a company's most liquid and readily available assets that can be easily converted into cash within a short period of time, usually within 90 days.

Sense 1 (Noun): In accounting, quick assets are classified as current assets and include cash, cash equivalents, marketable securities, and accounts receivable.

Example sentence: The company's balance sheet showed that its quick assets increased by 20% in the last quarter.

Sense 2 (Noun): In finance, quick assets are used to determine a company's liquidity and its ability to meet short-term obligations.

Example sentence: The ratio of quick assets to current liabilities indicated that the company had a strong financial position.

Sense 3 (Adjective): Quick assets can also refer to assets that are easily and rapidly converted into cash or sold at a reasonable price.

Example sentence: The real estate investment was considered a quick asset, as it was sold within a week of listing.

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