Questions
BBK99E2 - Basic Bookkeeping Level 2 Part 2 - Online Exam
Single choice
Capital assets are assets that are owned by the company, purchased for the intent of earning an income, and are intended for resale. True or False?
Options
A.True
B.False
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Step-by-Step Analysis
Question restatement: The prompt asks whether the statement 'Capital assets are assets that are owned by the company, purchased for the intent of earning an income, and are intended for resale' is True or False.
Option 1: True. This option asserts that capital assets fit a definition that emphasizes ownership, income-generating intent, and resale purpose. In accounting and finance, capital assets (often called fixed assets or long-te......Login to view full explanationLog in for full answers
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