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.

Analyze how cultural differences influence the interpretation and enforcement of contracts.

Identify the conditions under which a contract can be considered binding, including the role of acceptance.

Understand the legal consequences of the death of an offeror or the illegality of the subject matter of an offer on the offer itself.

Understand the importance of society as the primary focus of sociology.

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Definitions:

CPM Network

A project management tool that uses critical path method (CPM) to model tasks and activities in a project, showing the sequence and duration of each.

Project Cost

The total expenses incurred in the undertaking of a project including materials, labor, equipment, and overhead costs.

Crash Cost

Crash Cost relates to the increased costs associated with speeding up a project's timeline, beyond the standard pace, to achieve an earlier completion.

Normal Duration

The standard or expected time period something takes to complete under typical circumstances.