Which of the Following Properties That Was Sold During January

question 86

Multiple Choice

Which of the following properties that was sold during January 2016 is Section 1231 property for Baylan Toy Manufacturing Corporation?
I.Automobile purchased in 2012.
II.Land used in the business since 2013.
III.Factory building purchased and placed into service in May 2015.
IV.Office building purchased and placed into service in June 2012.
​

• A)Only statement I is correct.
• B)Statements I, II, and IV are correct.
• C)Statements III and IV are correct.
• D)Statements II and III are correct.
• E)Statements I, II, III, and IV are correct.

---

Definitions:

Dimension

Dimension is a measurable extent of some kind, such as length, width, height, or time, which helps define the scope or magnitude of an object or concept.

Efficiency

The ability to achieve a desired output or outcome with the minimum amount of input, effort, or waste.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increased interconnectedness of the world's economies, cultures, and populations.

Cosmopolitanism

An ideology or disposition characterized by an openness and appreciation of diverse cultures, beliefs, and backgrounds.