Which of the following defines a companys current ratio the most?

The current ratio is a measure that shows the degree to which a company has used debt to finance its assets.

The current ratio is a measure used to assess a company's ability to pay short-term obligations or those due within one year.

The current ratio is a measure that compares a companys marketable securities and cash to its current liabilities.

The current ratio is a measure that shows the amount of leverage used by a company in terms of total debt to total assets.