Which of the following would NOT be classified as a marketable security?

Marketable securities are financial instruments that can be easily bought, sold, or traded in financial markets. They typically include stocks, bonds, and treasury bills that can be quickly converted into cash due to their presence in active markets.

Land held as an investment does not fall into this category because it is not a financial instrument that can be easily traded. Real estate transactions involve significant time and costs, making land a less liquid asset compared to marketable securities. Investors cannot quickly sell or convert land into cash at a price that reflects its current market value.

In contrast, stocks, bonds that mature in one year, and government treasury bills are all forms of marketable securities. These financial instruments are characterized by their liquidity and the existence of a marketplace where they can be readily exchanged.