Asked by
Vanshika Goyal
on Nov 14, 2024Verified
Which of the following assets does not decline in service potential over the course of its useful life?
A) office equipment
B) furnishings
C) land
D) computers
Service Potential
Service potential refers to the capacity of an asset to provide goods or services that contribute to the future income of an organization.
Office Equipment
Tangible, long-term assets used in the operation of a business, such as computers, printers, and furniture, facilitating daily work tasks.
Land
A natural resource representing the earth's surface not including any structures; often considered a fixed asset in accounting.
- Recognize the attributes, appraisal, and financial reporting of intangible assets.
Verified Answer
MW
Learning Objectives
- Recognize the attributes, appraisal, and financial reporting of intangible assets.