Capital appreciation refers to

A. the increased value of a stock.

B. the ability to make a profit from owning stock.

C. the distribution of earnings to shareholders.

D. the profitable sale of shares.

Capital appreciation refers to A. the increased value of a stock.

However, it doesn't only refer to the stock value, but value of any asset that is increased, such as bonds, land, etc.

The term is related to an influx of money that is going to bring many benefits to the person who is the owner of such assets.