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:

Legislative History

The documents and records, including committee reports and debates, generated during the process of a bill becoming law, used to understand lawmakers' intentions.

Courts Use

The application and utilization of judicial systems to interpret and apply laws, resolve disputes, and administer justice.

Reasonable Compensation

Compensation that is fair and appropriate for the work performed, considering factors such as industry standards and the level of skill required.

Winding-up Partner

A partner designated or appointed to handle the process of dissolving a partnership or company, ensuring debts are paid and any remaining assets are distributed.