Which of the following is a capital asset?
A)Accounts receivable of a business
B)Personal auto
C)Land used as a movie theater parking lot
D)Business office furniture

Question

Quizplus · Accepted Answer

Personal auto is considered a capital asset because it is a significant piece of property owned for personal use. Capital assets typically include property not used in a business operation, such as personal vehicles, homes, and investments.

Which of the Following Is a Capital Asset