Which of the following items would be considered to be a capital asset?

Question

Quizplus · Accepted Answer

A capital asset is a long-term asset that is not intended to be sold or consumed in the near future. Construction of a new store building is a long-term investment and therefore, it is considered to be a capital asset. The purchase of office supplies, payment for advertising campaign, and donation of money to United Way are not capital assets as they are not long-term investments.

Which of the Following Items Would Be Considered to Be