The Installment Sale Method of Accounting Does Not Apply to Which

question 10

Multiple Choice

The installment sale method of accounting does not apply to which of the following sales?

• A) Sale of 12-acre tract of land held as inventory by a real estate developer
• B) Sale of business equipment
• C) Sale of U.S. Treasury notes
• D) The method does not apply to a. and c.

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Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background or descent, including language, tradition, and often religion or geographic origin.

Fortune 500

An annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years.

CEO

The CEO holds the highest position in a corporation or institution, tasked with the supreme duty of overseeing management decisions.

Discriminatory Behaviour

Actions that treat individuals or groups unfairly based on characteristics such as race, gender, age, or sexual orientation.