Which of these assets are "quick assets"?

-Cash and cash equivalents
-Short-term investment
-Trading assets
-Accounts receivable
-Inventories
-Deferred tax assets
-Other current assets

I am thinking "cash and cash equivalents" and "accounts receivable" are, but I'm not sure about the rest. Could someone help me? Thank you.

Yes, you are correct that "cash and cash equivalents" and "accounts receivable" are considered quick assets. Quick assets are the ones that can be easily converted into cash within a short period of time, typically within 90 days or less. They are also referred to as liquid assets, as they are readily available for use in meeting short-term obligations.

Let's go through the other asset types one by one to determine if they are quick assets:

1. Short-term investments: These are typically investments in securities such as stocks, bonds, or mutual funds that mature within 90 days or less. They are considered easily convertible to cash and thus are also considered quick assets.

2. Trading assets: Trading assets are typically securities or financial instruments that are held for the purpose of generating short-term profits. They are actively bought and sold to take advantage of price fluctuations. Since they can be easily converted into cash, trading assets are classified as quick assets.

3. Inventories: Inventories refer to the goods or products a company holds for sale in the ordinary course of business. While inventories can be converted into cash through sales, they are generally not considered quick assets because the process of selling and converting them into cash may take longer than 90 days.

4. Deferred tax assets: Deferred tax assets arise when a company has overpaid taxes or has tax credits that can be used to offset future tax liabilities. While these assets have value, they are not considered quick assets as the process of converting them into cash may take longer than 90 days.

5. Other current assets: This category includes various assets that do not fit into the aforementioned classifications, such as prepaid expenses, prepaid rent, or other short-term assets. The specific nature of these assets will determine whether they are considered quick assets or not.

So, to recap, the assets that can be classified as quick assets based on the given options are:
- Cash and cash equivalents
- Short-term investments
- Trading assets
- Accounts receivable

I hope this explanation helps you determine which assets are quick assets.