Multiple Choice
Which of the following is a Section 1231 asset?
A) Business inventory
B) Business accounts receivable
C) Supplies used in a business
D) None of the above is a Section 1231 asset
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q2: N&B Inc. sold land worth $385,000. The
Q4: Both corporate and individual taxpayers can deduct
Q21: JG Inc. recognized $690,000 ordinary income, $48,000
Q25: The sale of business inventory always generates
Q50: Stone Company recognized a $7,700 loss on
Q64: Three years ago, ChaGo Inc. sold a
Q80: Kuong Inc. sold a commercial office building
Q80: In 2018,TPC Inc.sold investment land with a
Q84: Michael sold machinery used in his business
Q89: The characterization of income as ordinary or