Identify Which of the Following Statements Is True

question 47

Multiple Choice

Identify which of the following statements is true.

• A) For Sec. 751 purposes, "substantially appreciated inventory" means property held for sale to customers whose market value exceeds its adjusted basis.
• B) Inventory for Sec. 751 purposes includes all property except cash, capital assets, and Sec. 1231 assets.
• C) The depreciation recapture potential for a Sec. 1245 property is not included in the definition of a Sec. 751 asset.
• D) All of the above are false.