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

Question

Quizplus · Accepted Answer

Capital assets are long-term assets that are not bought and sold in the regular course of business. They have an expected useful life of more than one year and are typically significant investments for an organization. Options A, B, C, and D are incorrect statements about capital assets.

Capital Assets