Which of the Following Is a Fixed Asset

question 173

Multiple Choice

Which of the following is a fixed asset?

• A) land
• B) accounts payable
• C) accruals
• D) notes payable

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Definitions:

Interest Income

Earnings received from investments like savings accounts, CDs, or bonds.

Taxpayer

An individual or entity that is obligated to make payments to municipal or governmental authorities based on income earned or property owned.

Provisional Income

It's the total income a person has, including tax-exempt interest and half of their Social Security benefits, used to determine the taxability of Social Security benefits.

Social Security Benefits

Payments made to eligible individuals from the government, intended to support retirees, disabled persons, and survivors of deceased workers.