Stanley operates a restaurant as a sole proprietorship. Which of the following items are capital assets in the hands of Stanley?
A) The restaurant's tables and chairs.
B) A portable sound system used to play "theme music" for the restaurant.
C) The restaurant building that is an asset of the sole proprietorship.
D) An interest-bearing savings account used to keep the restaurant's excess cash.
E) None of the above.

Question

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The Answer of Stanley operates a restaurant as a sole proprietorship. Which of the following items are capital assets in the hands of Stanley?
A) The restaurant's tables and chairs.
B) A portable sound system used to play "theme music" for the restaurant.
C) The restaurant building that is an asset of the sole proprietorship.
D) An interest-bearing savings account used to keep the restaurant's excess cash.
E) None of the above.

Stanley Operates a Restaurant as a Sole Proprietorship