Section 1231 Property Is

question 18

Multiple Choice

Section 1231 property is:

• A)Property used in a trade or business that is subject to depreciation and is held for more than one year.
• B)Property used in a trade or business that may or may not be subject to depreciation and held for less than one year.
• C)All property used in a trade or business regardless of how long the asset is held.
• D)Property used in a trade or business that may or may not be subject to depreciation and is held for more than one year.

---

Definitions:

Labor Force

The total number of people who are able and willing to work, either employed or actively seeking employment.

Technology

The use of scientific understanding for pragmatic objectives, particularly within the industrial sector.

Marginal Productivity

The additional output that is produced by adding one more unit of a specific factor of production, while other factors are held constant.

Robot Hours

Units of measurement indicating the time robots are in operation or engaged in productive tasks.