Which of the Following Assets Held by a Manufacturing Business

question 165

Multiple Choice

Which of the following assets held by a manufacturing business is a § 1231 asset?

• A) Inventory.
• B) Office furniture used in the business and held less than one year.
• C) A factory building used in the business and held more than one year.
• D) Accounts receivable.
• E) All of the above.

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Definitions:

Seafloor

The bottom of the ocean, covering a vast area and including features like plains, mountains, and trenches.

Continental Shelves

The underwater landmasses that extend around the continents, typically extending from the shore to a drop-off point known as the shelf break.

Abyssal Plains

Large, flat areas of the ocean floor that are among the deepest, most remote parts of the Earth's surface.

Abyssal Plains

Deep, flat or gently sloping areas of the ocean floor, situated between the continental margins and mid-ocean ridges, covered by sediment.