When creating a personal balance sheet, which of the following is an investment asset?

Question

Quizplus · Accepted Answer

A retirement account is considered an investment asset as it is intended to be a source of income in the future. The other options listed are not investment assets - cash value of life insurance is typically considered a liability, a checking account is a liquid asset, personal possessions in your home are usually classified as a personal asset, and vacation property can be either a personal asset or a long-term investment depending on its use.

When Creating a Personal Balance Sheet, Which of the Following