Monty Is in the Business of Song Writing

Multiple Choice

Monty is in the business of song writing.He writes jingles for television advertisements.He writes a jingle and sells it for a lump sum plus a royalty each time the jingle is played on TV.He has:

A) Sold a capital asset.
B) Sold an ordinary asset.
C) No gain or loss.
D) An ordinary gain.
E) b.and d.