Quick assets, also known as liquid assets or current liquid assets, are assets that can be quickly converted into cash within a short period, typically within one year or the operating cycle of the business, without significant loss of value or disruption to operations. Quick assets include cash, cash equivalents, marketable securities, and accounts receivable, excluding inventory and prepaid expenses, which may take longer to convert into cash or have uncertain realization values. Quick assets provide liquidity and short-term financial flexibility to businesses to meet their immediate cash needs, fund day-to-day operations, pay obligations, and seize investment opportunities without relying on external financing or asset sales. Quick assets are essential for maintaining solvency, financial stability, and operational continuity, as they enable businesses to withstand unexpected expenses, economic downturns, or fluctuations in cash flows while preserving their long-term viability and competitiveness. Analysts and investors often use quick asset ratios, such as the quick ratio or acid-test ratio, to assess a company's liquidity position and its ability to meet short-term obligations and financial commitments promptly.