What is an asset?
A)Mortgage payable
B)Notes Receivable
C)An amount a company owes
D)None of these

Name: What is an asset? A)Mortgage payable B)Notes Receivable C)An amount a company owes D)None of these
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Question

Quizplus · Accepted Answer

An asset is something of value that is owned by an individual or organization. Notes Receivable is an asset because it represents money that is owed to the organization, which will eventually be turned into cash. Mortgage payable and an amount a company owes are liabilities, and therefore not assets.

What Is an Asset