Final answer:
Asset turnover is not a liquidity ratio; it measures a company's efficiency in using assets to generate sales, while liquidity ratios assess a company's ability to meet short-term obligations.
Step-by-step explanation:
The liquidity ratio that is not included is D) asset turnover. Liquidity ratios are financial metrics that measure a company's ability to cover its short-term obligations. The common liquidity ratios are the current ratio, quick ratio, receivables turnover, and inventory turnover. Ratios like receivables turnover and inventory turnover assess the speed at which a company collects cash from customers or sells inventory, respectively, which are directly related to liquidity. Conversely, asset turnover measures the efficiency of a company's use of its assets to generate sales or revenue, which reflects operational efficiency rather than liquidity.