Which of the Following Is a Capital Asset

question 65

Multiple Choice

Which of the following is a capital asset?

• A) Accounts receivable of an accrual basis business
• B) Business equipment
• C) Self-created goodwill
• D) Purchased goodwill

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Definitions:

Sales Invoice

A paper provided by the seller to the buyer that outlines the goods or services offered, the total due, and the conditions of payment.

Credit Memorandum

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the terms of an earlier invoice.

Physical Abuse

Threatening, trying, or hurting a partner using physical force.

Emotional Abuse

Aggressive behavior that threatens, monitors, or controls a partner.