Fact Pattern 29-1A (Questions A11-A13 apply)
Luxuro Vehicles,Inc.,makes and sells automobiles to auto dealers,including MotorPros Auto & Truck Sales.MotorPros sells the cars to consumers and businesses.
-Refer to Fact Pattern 29-1A.Nani,a professional driver,buys a customized Luxuro from MotorPros to drive in a Grand Prix race.Nani's Luxuro is
A)a consumer good.
B)an instrument.
C)equipment.
D)inventory.

Question

Quizplus · Accepted Answer

Nani's Luxuro would be classified as equipment because it is being used for a professional purpose in a Grand Prix race, rather than being sold to a consumer for personal use.

Fact Pattern 29-1A (Questions A11-A13 Apply)