A liquid asset can be converted quickly to cash with little sacrifice in its value. Which of the following asset classes is generally considered to be the least liquid? Inventories Accounts receivable Plant and equipment Free Spirit Industries Corporation's current ratio is , and its quick ratio is LeBron Sports Equipment Corporation's current. ratio is , and its quick ratio is Note: Round your values to four decimal places. Which of the following statements are true? Check all that apply. Free Spirit Industries Corporation has less liquidity but aiso agreaterrelianceonoutsidecashflowtofinanceitsshort-termobligationst than LeBron Sports Equipment Corporation. A current ratio of 1 indicates that the book value of the company's current assets is equal to the book value of its current liabilities. If a company has a quick ratio of less than 1 but a current ratio of more than 1 and if the difference between the two ratios is large, then the company depends heavily on the sale of its inventery to meet its short-term obligations. Free Spint Industries Corporation has a better ablity to meet its shert-term liabilies than LeBron 5 ports Equipment Corporation. An increase in the current ratio over time always means that the company's liquidity position is improving