What are 'Quick Assets'
Anything having commercial or exchange value that can easily be converted into cash, or that is already in cash form. Quick assets are the highly liquid assets held by a company, including cash, marketable securities and accounts receivable. Quick assets are often calculated as current assets (cash + marketable securities + accounts receivable) minus inventories (since inventories are often a firm's leastliquid current assets). Quick assets are used by companies to calculate certain financial ratios that are used in decision making, including the quick ratio.
BREAKING DOWN 'Quick Assets'
The quick ratio (sometimes called the quick asset ratio or "acid test") is a financial ratio that divides a company's cash + marketable securities + accounts receivable by its current liabilities.
By keeping inventories out of the equation, the quick ratio allows the company to focus on its quick assets – those that could be quickly converted to cash – and helps the company determine if it could meet its financial obligations if sales (and revenues) were to cease.
The current ratio, on the other hand, is equal to current assets (including inventories and any assets that could be converted into cash within a "normal" 12month operating period) divided by current liabilities.

Quick Ratio
The quick ratio is an indicator of a company’s shortterm liquidity. ... 
Current Assets
A balance sheet account that represents the value of all assets ... 
Liquidity
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Current Ratio
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Liquid Asset
An asset that can be converted into cash quickly and with minimal ...

Term
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What are the main differences between the current ratio and the quick ratio?
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How can the current ratio be misinterpreted by investors?
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