Which of the Following Could Be Classified as an Asset

question 111

Multiple Choice

Which of the following could be classified as an asset?

• A) land
• B) buildings
• C) equipment
• D) all of these

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Definitions:

Nonnegotiable

Referring to an instrument, term, or condition that cannot be transferred or altered by agreement between the parties involved.

Maker

The party in a financial instrument, like a check or promissory note, who is responsible for the payment of the amount specified.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, and to a specific person or bearer.

Note

A written promise to pay a specified amount of money at a certain time, often used in finance as a type of informal loan agreement or debt instrument.