Mortgage Payable Is What Type of Account

question 73

Multiple Choice

Mortgage Payable is what type of account?

• A)Asset
• B)Liability
• C)Expense
• D)Contra-asset

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Definitions:

Continuous Improvement

A methodological approach aimed at achieving incremental enhancements in processes, products, or services over time, often associated with quality management systems.

Value Chain

A series of activities that a company performs to deliver a valuable product or service to its customers, from concept to delivery.

ISO Certification

A certification that indicates compliance with international standards developed by the International Organization for Standardization.

Consistently Performed

Actions or tasks carried out with uniformity and reliability over a period, ensuring stability and predictability in outcomes.