Fact Pattern 29-1A
Excel Vehicles, Inc., makes and sells automobiles to auto dealers, including Fine Auto Sales. Fine sells the cars to consumers and businesses.
-Refer to Fact Pattern 29-1A. Holly, a professional driver, buys an Excel from Fine to drive in a Grand Prix race. Holly's Excel is
A) a consumer good.
B) an accession.
C) equipment.
D) inventory.

Question

Fact Pattern 29-1A 
Excel Vehicles, Inc., makes and sells automobiles to auto dealers, including Fine Auto Sales. Fine sells the cars to consumers and businesses.
-Refer to Fact Pattern 29-1A. Holly, a professional driver, buys an Excel from Fine to drive in a Grand Prix race. Holly's Excel is
A) a consumer good.
B) an accession.
C) equipment.
D) inventory.

Quizplus · Accepted Answer

Since Holly is a professional driver and she bought the Excel to drive in a Grand Prix race, it can be classified as equipment.