Which term best describes the documents or electronic records that prove ownership of equity or debt?

• A. Real assets
• B. Securities
• C. Equities
• D. Derivatives

Answer: (B)

Securities are the documents or electronic records that prove ownership of equity or debt. They cover both ownership interests in companies (equities) and creditor relationships (debt such as bonds), and they serve as tradable evidence of those claims. Real assets refer to physical items, not financial instruments. Equities describe the ownership shares themselves, not the instrument that proves ownership. Derivatives are contracts whose value depends on underlying assets and do not by themselves prove ownership of those assets.