Which of the following statement is false?

Current ratio and quick ratio are used to measure a company's short-term liquidity.

Quick assets include cash and cash equivalents, short-term investments, and accounts receivable.

Normally a current ratio of less than one is preferred as it indicates that a company has fewer current assets than its current liabilities.

Quick ratio is a more conservative measure of liquidity than the current ratio because only more liquid current assets are included in the quick ratio.