Question

Which of the following would be considered an asset?

A. A building your company owns, but only if there is no mortgage on it
B. A building your company owns, but only if it is leased to a third party
C. A building your company owns, minus the cost of mortgage payments
D. A building your company owns, even if there is a mortgage on it

Answer 1

Option A, "A building your company owns, but only if there is no mortgage on it," would be considered an asset because it represents a valuable resource owned by the company without any associated debt.