Which of the following assets would be subject to cost recovery?
A) A painting by Picasso hanging on a physician's office wall.
B) An antique vase in a doctor's waiting room.
C) Landscaping around the doctor's office.
D) a., b., and c.
E) None of the above.

Question

Quizplus · Accepted Answer

Landscaping around the doctor's office would be subject to cost recovery as it is a tangible asset that is expected to have a limited useful life and can be depreciated over time. The painting and antique vase would be considered decorative assets and typically cannot be depreciated.

Which of the Following Assets Would Be Subject to Cost