What is defined as money or property borrowed that must be repaid?

The correct answer is "debt," which is defined as money or property that has been borrowed and must be repaid. In financial contexts, debt encompasses all outstanding obligations that an entity owes. This includes loans and other forms of borrowing such as bonds or notes payable. When an organization borrows money, it typically agrees to pay back the principal amount along with interest, thereby creating a liability on its balance sheet.

It's important to differentiate between the terms. A loan refers specifically to a sum of money lent, which can be a type of debt. Capital usually refers to financial assets used for investment or operational purposes and doesn't specifically denote borrowed money. An asset is anything of value owned by an entity, while debt is an obligation that requires repayment. Thus, the term "debt" encompasses the broader concept of borrowed funds that require future repayment, making it the most accurate choice in this context.