Match each of the following items with the term or phrase (a-g) that best describes it. Terms or phrases may be used more than once.
-Cash + Temporary investments + Accounts receivable
A)Current ratio
B)Working capital
C)Quick assets
D)Quick ratio
E)Record an accrual and disclose in the notes to the financial statements
F)Disclose only in notes to financial statements
G)No disclosure needed in notes to financial statements

Question

Quizplus · Accepted Answer

Cash, temporary investments, and accounts receivable are considered quick assets because they can be quickly converted into cash, typically within 90 days or less, without a significant loss in value.

Match Each of the Following Items with the Term or Phrase