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. Ira, a police officer, buys an Excel from Fine to drive in his off-duty hours. Ira'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. Ira, a police officer, buys an Excel from Fine to drive in his off-duty hours. Ira's Excel is
A) a consumer good.
B) an accession.
C) equipment.
D) inventory.

Quizplus · Accepted Answer

Ira's Excel is a consumer good because it is being purchased for personal use and not for resale or business purposes.