Which of the Following Is a Capital Asset

question 47

Multiple Choice

Which of the following is a capital asset?

• A)Inventory held by a manufacturer
• B)Accounts receivable held by a dentist
• C)All property owned by a taxpayer other than property specifically noted in the law as an exception
• D)Depreciable property and real estate used in a trade or business

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Definitions:

Tarasoff Case

A legal case that established the duty of mental health professionals to warn individuals who are being threatened with harm by a patient.

Warn

To inform someone of a possible danger, risk, or other unpleasant situation so that they are aware and can take precautionary measures.

Involuntary Commitment

The process by which individuals are admitted to a psychiatric facility without their consent, typically due to severe mental illness posing a risk to themselves or others.

Dangerous

Refers to something that is likely to cause harm or injury.