QuestionAugust 13, 2025

Which of the following is an asset? Land Mortgage Bank Loan Accounts Payable

Which of the following is an asset? Land Mortgage Bank Loan Accounts Payable
Which of the following is an asset?
Land
Mortgage
Bank Loan
Accounts Payable

Solution
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Answer

Land Explanation 1. Identify Asset Characteristics An asset is something owned by a company that has economic value and can provide future benefits. 2. Evaluate Each Option - **Land**: Owned property, providing future economic benefits. - **Mortgage**: A liability, not an asset. - **Bank Loan**: A liability, not an asset. - **Accounts Payable**: A liability, not an asset.

Explanation

1. Identify Asset Characteristics<br /> An asset is something owned by a company that has economic value and can provide future benefits.<br /><br />2. Evaluate Each Option<br /> - **Land**: Owned property, providing future economic benefits. <br /> - **Mortgage**: A liability, not an asset.<br /> - **Bank Loan**: A liability, not an asset.<br /> - **Accounts Payable**: A liability, not an asset.
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