Which of the Following Statements Is Correct Regarding the Sale

question 29

Multiple Choice

Which of the following statements is correct regarding the sale of ordinary assets?

• 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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Definitions:

Settlement

The establishment of human communities in new areas, often involving the development of infrastructure and habitation.

Ghost Dance

A religious movement that arose among Native American peoples in the late 19th century, promising the restoration of their lands and way of life.

Government Policies

Strategies or procedures implemented by a government to guide decision-making and achieve rational outcomes.

Ecological Catastrophe

A large-scale, disastrous event that significantly disrupts an ecosystem, leading to the loss of biodiversity and ecological balance.