The correct answer is B. Owned.
An asset is a resource that a company owns or controls that has the potential to provide future economic benefits. In order to be shown as an asset on a company’s balance sheet, the asset must be owned by the company. This means that the company has the legal right to the asset and can use it as it sees fit.
The other options are not correct because they do not meet the definition of an asset. An asset does not need to be possessed by the company, controlled by the company, or used by the company in order to be shown on the balance sheet. For example, a company may own an asset that is leased to another company. The asset is still owned by the first company, even though it is being used by the second company.
In conclusion, the correct answer is B. Owned. An asset must be owned by the business to be shown as an asset in its balance sheet.