Which of the Following Assets Are Eligible for §179 Expensing

question 67

Multiple Choice

Which of the following assets are eligible for §179 expensing?

• A) Used office machinery.
• B) Qualified improvement property.
• C) A new delivery truck.
• D) Used office furniture.
• E) All of the choices are correct.

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Definitions:

GDP

Gross Domestic Product, which measures the total value of all goods and services produced within a country’s borders in a specific time period.

Partnership

A lawful business structure operated by two or more people who jointly manage and divide profits.

Limited Liability

A legal structure that limits the personal financial responsibility of shareholders for the debts or actions of a corporation to the amount they invested.

Capital Acquisition

The process of acquiring capital assets, which are resources such as machinery, tools, or buildings, used to produce goods or services.