Which of the Following Statements Is Correct Regarding the Sale

Multiple Choice

Which of the following statements is correct regarding the sale of ordinary assets as discussed in this chapter?

A) The sale of business property held for more than a year is a sale of an ordinary asset.
B) The sale of an asset held less than a year) outside the normal course of a trade or business is a sale of an ordinary asset.
C) The sale of any business property regardless of holding period is a sale of an ordinary asset.
D) The sale of inventory for a profit is considered to be a sale of an ordinary asset.