Final answer:
Government of Canada securities are considered assets on a commercial bank's balance sheet as they represent future income, unlike deposits and shareholders' equity which are liabilities and net worth respectively.
Step-by-step explanation:
Among the options listed, Government of Canada securities would appear on the assets side of a commercial bank's balance sheet. These are bonds, and bonds are a common mechanism for borrowing used by the government and various organizations. A bank uses the money it has received in deposits to buy these bonds, which are seen as an asset because they will yield a steady stream of payments in the future. The key reason they are considered assets rather than liabilities is that they represent a contractual future income for the bank. This contrasts with chequeable deposits, savings deposits, and Government of Canada deposits, which are liabilities as they are monies the bank owes to depositors. Similarly, shareholders' equity is not an asset but a reflection of the net worth of the bank after liabilities have been subtracted from assets.