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Simple English definitions for legal terms

capital asset

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A quick definition of capital asset:

Capital asset: A capital asset is something a business owns that they plan to use to make money for more than a year. These things are usually physical objects like land, buildings, and machines. On a balance sheet, they are called property, plant, and equipment. The business can take a little bit of money off the value of the asset each year, which is called depreciation.

A more thorough explanation:

Capital Asset

Capital assets are things a business owns that are used to make money and are expected to last for more than a year. They are usually physical things that can't be easily turned into cash. On a balance sheet, capital assets are shown as property, plant, and equipment (PP&E). Examples of capital assets include:

  • Land
  • Buildings
  • Machinery

Businesses can spread out the cost of capital assets over their expected useful life. This is called depreciation.

Capital assets are things that a business owns that are used to make money. They are different from things like inventory or cash, which are used up or spent quickly. Capital assets are expected to last for more than a year, so they are usually physical things that can't be easily turned into cash. Examples of capital assets include land, buildings, and machinery. These things are used by a business to make money, and they are expected to last for a long time. Businesses can spread out the cost of capital assets over their expected useful life, which is called depreciation. This helps businesses to account for the cost of these assets over time.

capital account | capital case

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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