Which of the Following Is a Section 1231 Asset

question 83

Multiple Choice

Which of the following is a Section 1231 asset?

• A)Business inventory
• B)Business accounts receivable
• C)Supplies used in a business
• D)None of the above is a Section 1231 asset

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Definitions:

Immigration Act of 1924

A United States federal law that restricted immigration by establishing quotas based on nationality.

Johnson-Reed Act

A 1924 United States federal law that limited the number of immigrants who could be admitted from any country to 2% of the number of people from that country who were already living in the United States as of the 1890 census.

Immigration Restriction

Policies or laws designed to limit or control the numbers and characteristics of immigrants allowed to enter a country.

Ku Klux Klan

Group organized in Pulaski, Tennessee, in 1866 to terrorize former slaves who voted and held political offices during Reconstruction; a revived organization in the 1910s and 1920s that stressed white, Anglo-Saxon, fundamentalist Protestant supremacy; revived a third time to fight the civil rights movement of the 1950s and 1960s in the South.