Which of the Following Statements Is Correct Regarding the Sale

question 104

Multiple Choice

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

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

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