A liquid asset can be converted quickly to cash with little sacrifice in its value. Which of the following assets classes is generally considered to be the least liquid? Treasury bills Money market securities Real estate assets The most recent data from the annual balance sheets of Gaia Group and Volition Corporation. are given. Volition's current ratio is _____ and its quick ratio is ____, whereas Gaia's current ratio is _____, and its quick ratio is ____. Which of the following statements are true? Check all that apply. Gaia Group has a better ability to meet its short-term liabilities than Volition 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. An increase in the quick ratio over time usually means that the company's liquidity position is improving. As compared to volition Corporation Gaia Group has lesser liquidity and relatively greater reliance on outside cash flow to finance its short-term obligations. An increase in the current ratio over time would always mean that the company's liquidity position is improving. One of the most important assumptions behind the calculation of quick ratio is that: The firm's accounts receivables can be collected and converted into cash within the time period for which credit was granted The firm's accounts receivables will be collected late (after the expiration of the credit period) or are uncollectible The firm's inventories are highly liquid and can be sold quickly with minimal loss of value to assist in the settlement of the firm's financial obligations