Which One of the Following Is a Capital Asset

question 29

Multiple Choice

Which one of the following is a capital asset?

• A)automobile held by car dealer for sale
• B)automobile used for personal purposes
• C)automobile used in taxpayer's trade or business
• D)B and C only

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Definitions:

Good Work Habits

Practices that are conducive to achieving success and efficiency in the workplace, such as punctuality, organization, and dedication.

Believing in Oneself

Confidence in one's own abilities and decisions, often leading to greater perseverance and success in tasks.

Courage to Take Risks

The bravery to engage in actions or decisions that involve uncertainty or potential for failure.

Entrepreneurship

The act of creating, designing, and running a new business, often characterized by innovation and risk-taking.