Which of the Following Is Not a §1245 Asset If

question 55

Multiple Choice

Which of the following is not a §1245 asset if held for more than one year?

• A) Machinery.
• B) Automobile.
• C) Computer.
• D)Land.
• E)None of these

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Definitions:

Accounting Equation

The fundamental formula in accounting that represents the relationship between a company's assets, liabilities, and shareholders' equity: Assets = Liabilities + Equity.

Investment Of Land

The act of spending money to purchase land as an investment, with the expectation that it will appreciate in value.

Accounting Equation

The foundational principle of accounting stating that Assets = Liabilities + Owner’s Equity, representing the structure of a balance sheet.

Cash Withdrawal

The act of taking money out of a bank account or cash reserve.