Which of the Following Statements Is Correct Regarding the Sale

question 29

Multiple Choice

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

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

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Definitions:

Hemisphere

Half of a spherical or roughly spherical body, especially one of the two halves of the earth, divided into the Northern and Southern Hemispheres.

Neurons

Specialized cells that transmit nerve impulses; the basic building blocks of the nervous system.

Dendrites

Branch-like extensions of neurons that receive signals from other neurons.

Synapse

The junction between two neurons, where nerve impulses are transmitted from one neuron to another.