Attempts: 2. Liquidity ratios A liquid asset can be converted to cash quickly without significantly impacting the asset's value. which of the following asset classes is generally considered to be the most liquid? Do No Harm: /10 () Cash O Accounts receivable O Inventories The most recent data from the annual balance sheets of Free Spinit Industries Inc. and Scramouche Opera Company are as folle Balance Sheet December 31st (Millions of dollars) Scramouche Free Spirit Opera Industries Scramouche Free Spirit OperaIndustries Company Inc. Company Inc. Liabilities Assets Current liabilities so $2,870 1:050 3,080 $1,845 Aounts payable Cash Accounts receivable Inventorie 675 Accruals 1.980 Notes payable 3,586