Grill Corporation sold all of its business assets when it went out of business.Which of the following is a capital asset?
A)Inventory
B)Office equipment
C)Goodwill
D)Factory machinery

Question

Quizplus · Accepted Answer

Goodwill is considered a capital asset because it is an intangible asset that represents the value of a business's reputation and customer relationships, which are not used in the ordinary course of business like inventory or equipment.

Grill Corporation Sold All of Its Business Assets When It