Which of the following is not considered an essential component but is often located near the computer?

The choice of "Peripheral" as the correct answer stems from the definition and role of peripheral devices in a computer system. Peripherals are external devices that provide input and output to the computer but are not essential for the computer to function. For instance, a mouse, keyboard, printer, or scanner enhances the usability of a computer but are not necessary for it to perform basic operations.

In contrast, the hard drive, processor, and motherboard are all critical components of a computer system. The hard drive serves as the primary storage for data and programs, the processor executes instructions and performs calculations necessary for running applications, and the motherboard is the main circuit board that connects all components together and facilitates communication between them.

Thus, the distinction lies in the fact that while peripherals enhance and expand the functionality of a computer, they are not vital for the system's fundamental operations, which makes "Peripheral" the correct answer in this context.