Which of the Following Is a Characteristic of a Capital

question 130

Multiple Choice

Which of the following is a characteristic of a capital asset?

• A)The item will be used for a long period of time.
• B)The item involves a significant sum of money.
• C)None of these characteristics are correct.
• D)Both A and B are correct.

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Definitions:

Code

A systematic collection of laws, regulations, or rules that govern a specific area of legal practice.

Express Warranty

A clearly stated promise from a seller regarding the condition, quality, or performance of the goods being sold.

Warranty of Merchantability

A promise, implied by law, that a product sold by a merchant is fit for the general purpose for which it is sold.

Contributory Negligence

A legal principle where the plaintiff's own negligence partially causes their injury, potentially reducing or eliminating their compensation.