Orange, Inc. buys a sandwich-making machine for $35,000 on April 1, this year. The machine...
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Accounting
Orange, Inc. buys a sandwich-making machine for $35,000 on April 1, this year. The machine is used in Orange's business. As of December 31, this year, the machine is classified as:
a.
A capital asset.
b.
A Section 1231 asset.
c.
A casualty asset.
d.
An ordinary asset.
e.
None of the above.
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