Which of the Following Is Not a Capital Asset

question 30

Multiple Choice

Which of the following is not a capital asset?

• A)Office building used by a CPA firm.
• B)Antique automobile held by an antique automobile collector.
• C)Land held for investment.
• D)Stock held for investment.

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Definitions:

Interest Rates

The percentage at which interest is charged or paid for the use of money, typically expressed as an annual percentage of the principal.

Corporate Taxes

Taxes imposed on the income or profit of corporations by the government.

After-tax Profits

The amount of money a company retains after all income taxes have been subtracted from its earnings.

Marginal Propensity

The ratio of the change in an economic variable (such as consumption or savings) in response to a change in another variable (such as income).