Step 1: Understand Liquid Ratio The liquid ratio assesses a company's capacity to satisfy immediate liabilities with readily available assets, specifically excluding inventory. This metric is alternatively termed the \textit{Quick Ratio} or \textit{Acid Test Ratio}. In contrast to the liquid ratio, the current ratio encompasses inventory. Step 2: Conclusion Therefore, the liquid ratio is also referred to as the Quick Ratio or the Acid Test Ratio.