Which of the Following Would Be an Example of a Fixed

question 13

Multiple Choice

Which of the following would be an example of a fixed asset for a used record shop?

• A) Music posters
• B) Turntables
• C) The small building that houses the shop
• D) Accounts receivable
• E) Owners' equity

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Definitions:

Annual Payments

Regular payments made once a year.

Loan

Money that is borrowed, typically from a bank or financial institution, which is expected to be paid back with interest.

Withdrawals

Sums of money taken out from an account, fund, or deposit by the account holder.

Investment

Investment refers to the action of allocating resources, usually money, with the expectation of generating an income or profit.