The company vehicle is probably???

Question

a partly an asset
b partly a liability
c a and b
d neither a nor b

Answer 1

D.

It's an asset. There's no such thing as "partly" an asset.

While there might be a liability associated with it, i.e. a loan for the purchase, that does NOT make the vehicle a liability. Nor is anything "partly" a liability.

Answer 2

C

The vehicle itself is the asset, but it may have liabilities associated with it (insurance costs, fuel, maintenance, loans, etc...)

Answer 3

C