Business assets that tend to be used for both business and personal purposes are referred to as listed property.

Name: Business assets that tend to be used for both business and personal purposes are referred to as listed property.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Listed property refers to assets that are used both for business and personal purposes. Examples include vehicles, computers, and cameras. These assets must be depreciated and are subject to specific requirements and limitations for claiming deductions.

Business Assets That Tend to Be Used for Both Business