All of the Following Statements Regarding Section 1231 Are Incorrect

question 33

Multiple Choice

All of the following statements regarding Section 1231 are incorrect except:

• A) Property used in a trade or business regardless of how long the asset is held.
• B) Property used in a trade or business that may or may not be subject to depreciation and held for more than one year.
• C) Property used in a trade or business that is subject to depreciation and held for more than one year.
• D)Property used in a trade or business that may or may not be subject to depreciation and held for less than one year.