BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following are assets?
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Bank account
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Motor vehicles
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Bank overdraft
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Furniture
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Credit card
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Explanation:
Detailed explanation-1: -Capital Expenditures office furniture would typically be considered a long-term asset, as it is not something that is typically replaced on a yearly basis. As such, it would fall into this category. Capital expenditures are typically not deductible from a business’s taxable income.
Detailed explanation-2: -Yes, furniture is a fixed asset.
Detailed explanation-3: -Answers. Furniture is a tangible asset so it is real account.
There is 1 question to complete.