Capital assets:
A)are not bought and sold in the regular course of business.
B)may be tangible or intangible.
C)have an expected use of less than one year.
D)have little or no effect on the organization's operations.
E)are typically acquired for fairly small sums of money.

Question

Quizplus · Accepted Answer

Capital assets can be tangible (such as buildings, equipment, and vehicles) or intangible (such as patents, copyrights, and trademarks). They are not typically items that are bought and sold in the regular course of business and are expected to have a useful life of more than one year. They can have a significant impact on an organization's operations and generally involve large sums of money.

Capital Assets