Which of the Following Items Is Not a Capital Asset

question 5

Multiple Choice

Which of the following items is not a capital asset in the hands of the taxpayer?

• A)Taxpayer has a set of wrenches he uses to work on his personal auto.
• B)Taxpayer has a $6,000 wedding dress she keeps as a remembrance of her wedding.
• C)Taxpayer owns city of Topeka bonds.
• D)Taxpayer is an amateur golfer but has a set of championship golf clubs
• E)All of the above items are capital assets.

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Definitions:

Frustrations

Feelings of dissatisfaction or annoyance resulting from unmet expectations or obstacles to achieving goals.

Tantrums

Emotional outbursts, typically seen in children, characterized by yelling, crying, or physical demonstrations of displeasure.

Gender-Typed Toys

Toys that are socially and culturally associated with specific genders, such as dolls for girls and trucks for boys.

Gender Roles

Social and behavioral norms that are considered appropriate for individuals of a specific sex within a given culture or society.