Which of the following items would not be included on a balance​ sheet?
A. Automobile loan balance
B. Student loan balance

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Complete/Correct Question:

Which of the following items would not be included on a balance​ sheet?

A. Mortgage payment paid

B. Automobile loan balance

C. Student loan balance

D. Balances owed on your utility bills

E. Balances owed on your credit​ card(s)

Answer:

A, Mortgage payment paid

Explanation:

Only mortgage payable loan can be included on the balance sheet as it is a liability. A mortgage that has been paid for fully does not need to be on the balance sheet since it is no more a  current liability or current expense.

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