All of the Following Statements Regarding the Definition of Section

Multiple Choice

All of the following statements regarding the definition of Section 1231 are incorrect except:

A) Property used in a trade or business that may or may not be subject to depreciation and held for more than one year.
B) Property used in a trade or business that is subject to depreciation and held for more than one year.
C) Property used in a trade or business that may or may not be subject to depreciation and held for less than one year.
D) Property used in a trade or business regardless of how long the asset is held.