Which of the following assets held by a manufacturing business is a § 1231 asset?
A)Inventory.
B)Office furniture used in the business and held less than one year.
C)A factory building used in the business and held more than one year.
D)Accounts receivable.
E)All of these.

Question

Quizplus · Accepted Answer

A factory building used in the business and held more than one year is a § 1231 asset, as it is held for productive use in the business and is subject to depreciation. Inventory, office furniture held less than a year, and accounts receivable are not considered § 1231 assets.

Which of the Following Assets Held by a Manufacturing Business