Final answer:
The market value of land is recorded in the Balance Sheet because it is considered an asset. It would be listed under property, plant, and equipment, or as an investment if applicable.
Step-by-step explanation:
The question pertains to where the market value of land would be recorded in business accounting. The options provided are Balance Sheet (BS), Income Statement (IS), Statement of Equity (SE), and Cash Flow (CF). The market value of land is an asset, and assets are listed in the Balance Sheet under property, plant, and equipment if the land is being used for business purposes or as an investment property. Considering this, the correct answer is a) BS.