A long-term asset, such as land or building is termed as ?
Correct answer: A. capital asset
- A. capital asset
- B. solid asset
- C. solid capital
- D. Future asset
Explanation
A capital asset is a long-term asset used in business, such as land, buildings or machinery, rather than an item held for immediate sale. The other options are not standard accounting terms for this category.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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