acid test

acid test
1. The ratio of *current assets to *current liabilities. The acid test ratio is a quick means of assessing an entity’s *liquidity and its alternative names include the "quick" ratio and the "liquid" ratio. Only liquid current assets are used in the ratk) - normally *cash, cash equivalents (such as marketable *securities), and *accounts receivable. *Inventory is usually excluded from current assets, owing to the time delay typically required to convert inventories into cash. *Prepaid expenses are also typically excluded from liquid current assets in the ratio calculation. 2. Any critically important test. The term "acid test" derives from the use of nitric acid to test for gold. By extension, it has come to refer to the testing of any important activity.

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  • acid test — When Fowler was preparing the first edition of Modern English Usage, he remarked that acid test was undoubtedly the popularized technical term ‘most in vogue at the moment of writing (1920)’. In scientific use it meant the use of nitric acid to… …   Modern English usage

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  • acid test — ► NOUN ▪ a conclusive test of success or value. ORIGIN from the original use denoting a test for gold using nitric acid …   English terms dictionary

  • acid test — n. [orig. a test of gold by acid] a crucial, final test that proves the value or quality of something …   English World dictionary

  • acid test — noun count usually singular a fact, event, or situation that proves something, for example whether a plan will work: The state of the economy is usually the acid test of any government s success …   Usage of the words and phrases in modern English

  • acid test — An acid test is something that proves whether something is good, effective, etc, or not …   The small dictionary of idiomes

  • acid test — [n] test of value, genuineness proof, proving ground, substantiation, trial, verification; concepts 87,290,291 …   New thesaurus

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