All of the Following Are Capital Assets with the Exception

question 6

Multiple Choice

All of the following are capital assets with the exception of

• A)Stocks and bonds.
• B)Office furniture used in a business
• C)Monet painting privately held.
• D)Apartment building held for investment.
• E)Personal residence.

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Definitions:

Accounts Receivable

Money that customers are required to pay to a company for goods or services that they have received or used, but have not yet paid for.

Inventory

The total amount of goods and materials held by a company intended for sale or used in production.

Net Fixed Assets

Net Fixed Assets represent the total value of a company's property, plant, and equipment minus any depreciation, amortization, and impairment charges that have been taken against these assets.

Long-term Debt Ratio

A financial metric that measures the proportion of a company's total debt that is due over a period longer than one year, relative to its total assets.