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LSDefine

Simple English definitions for legal terms

quick asset

Read a random definition: Aquilian law

A quick definition of quick asset:

A quick asset is something that a person or company owns that has value and can be easily turned into cash. This includes things like money in the bank, inventory, equipment, and accounts receivable. Quick assets are important because they can be used to pay bills or debts quickly if needed. Other types of assets, like property or investments, may take longer to turn into cash and are not considered quick assets.

A more thorough explanation:

A quick asset is an item that is owned and has value. It is readily convertible into cash, such as a marketable security, a note, or an account receivable. Current assets are examples of quick assets, which are expected to be converted to cash, sold, or consumed during the next twelve months. These assets are important for a business to have because they can be used to pay off debts or invest in new opportunities.

For example, a company may have accounts receivable from customers who have not yet paid for their purchases. These accounts receivable are quick assets because they can be converted into cash relatively quickly. Another example of a quick asset is inventory that a company plans to sell in the near future.

Quick assets are important for a company's liquidity, which is its ability to meet short-term obligations. If a company has a lot of quick assets, it is considered to be more liquid and less risky than a company with fewer quick assets.

qui cedit foro | quick-asset ratio

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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