question 1 (1 point) saved bank loan asset liability owners equity question 2 (1 point) saved mortgage…

question 1 (1 point) saved bank loan asset liability owners equity question 2 (1 point) saved mortgage payable (mortgage is money you owe to a bank) asset liability owners equity question 3 (1 point) saved land asset liability owners equity

question 1 (1 point) saved bank loan asset liability owners equity question 2 (1 point) saved mortgage payable (mortgage is money you owe to a bank) asset liability owners equity question 3 (1 point) saved land asset liability owners equity

Answer

Brief Explanations:

  • Question 1: A bank loan is an obligation to repay money, so it's a liability.
  • Question 2: Mortgage payable is an amount owed to a bank, thus a liability.
  • Question 3: Land is a resource with economic value owned by a business or individual, so it's an asset.

Answer:

Question 1: B. LIABILITY Question 2: B. LIABILITY Question 3: A. ASSET