1. The ________ of a business firm is measured by its ability to satisfy its short-term obligations as they come due.
A. activity
B. liquidity
C. debt
D. profitability
2. The ________ is a measure of liquidity which excludes ________, generally the least liquid asset.
A. current ratio; accounts receivable
B. quick ratio; accounts receivable
C. current ratio; inventory
D. quick ratio; inventory