Which of the Following Statements Is Correct Regarding the Sale

question 26

Multiple Choice

Which of the following statements is correct regarding the sale of ordinary assets?

• A)the sale of business property held for more than a year is a sale of an ordinary asset.
• B)the sale of inventory for a profit is considered to be a sale of an ordinary asset.
• C)the sale of any business property regardless of holding period is a sale of an ordinary asset.
• D)the sale of an asset outside the normal course of a trade or business is a sale of an ordinary asset.