Which of the Following Assets Does Not Decline in Service

question 141

Multiple Choice

Which of the following assets does not decline in service potential over the course of its useful life?

• A) Equipment
• B) Furnishings
• C) Land
• D) Fixtures

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Definitions:

Retail Business

A business model that involves selling goods directly to consumers, typically in small quantities.

Certified Public Accountant

A professional designation given to qualified accountants in numerous countries, denoting that the individual has passed a licensure exam and met statutory requirements.

Public Accounting Firm

A business that provides accounting, auditing, tax, consulting, and financial advisory services to clients.

Internal Users

Individuals within an organization, such as managers and employees, who use financial information for decision-making.