Stanley operates a restaurant as a sole proprietorship. Which of the following items are capital assets in
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Question:
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.
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1119371403
4th edition
Authors: Robert Parrino, David S. Kidwell, Thomas Bates
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