Which of the following transactions does not affect the quickratio? a. Land held for investment is sold for cash. b. Equipmentis purchased and is financed by a long-term debt issue. c.Inventories are sold for cash. d. Inventories are sold on a creditbasis. The quick ratio is a test of how much coverage a firmscurrent assets gives over its current liabilities. The relationshipis expressed as Current Assets/Current Liabilities. Inventories andcash are part of current assets. Any changes would affect theratio.