Which of the Following Capital Assets Is Not a Depreciable

question 105

Multiple Choice

Which of the following capital assets is not a depreciable asset?

• A)Building
• B)Equipment
• C)Automobiles
• D)Land

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Definitions:

Partnership Contract

A legal agreement between partners that outlines the terms and conditions of their business relationship.

Profits

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Income Ratio

A financial metric comparing earnings to another element, such as sales or assets, to assess profitability or performance.

Partnership Agreement

A legal document that specifies the terms and conditions under which a partnership operates, including profit sharing and decision-making processes.