Capital assets are long-term assets that:
A) are bought and sold in the regular course of business.
B) have an expected use of less than one year.
C) have an ongoing effect on the organization's operations.
D) are generally expensed.
E) are acquired for fairly small sums of money.

Question

Quizplus · Accepted Answer

Capital assets are long-term assets that have an ongoing effect on the organization's operations, as they are used over multiple years to generate revenue.

Capital Assets Are Long-Term Assets That