Which of the following would be considered an asset?

A checking account is considered an asset because it represents liquid cash that can be readily accessed. Assets are valuable resources owned by an individual or a business that can provide future economic benefit. In the case of a checking account, the funds within it are available for immediate use and can be spent, transferred, or saved, making it a key component of an individual's financial health.

In contrast, credit card debt and monthly rent payments are liabilities, meaning they represent obligations that need to be paid and do not provide financial resources. Mortgage payments also fall into the category of liabilities, as they are payments made on a loan for property, which must be repaid over time. Therefore, while liabilities reflect what you owe, an asset like a checking account represents what you own and control.