Which of the following assets would you classify as quick assets for purposes of calculating the quick ratio? Explain your reasoning. Remember, the quick ratio should include assets that can quickly and readily be converted to cash.
a. Prepaid insurance
b. Interest receivable
c. A term deposit that matures in one month
d. Account receivable due to be paid in 16 months
e. Current portion of a long-term note receivable
f. Apartment building
g. Investment certificate maturing in 12 months
h. Inventory of gold bars
i. Cash restricted to pay off a loan
j. Inventory of hardware
k. Post-dated cheques-the cheques can be cash 45 days after the year-end
l. Term deposit maturing in one month
m. Shares in a privately owned corporation