Which of the following assets held by a cash basis accounting firm is a § 1231 asset?
A) An account receivable from a client.
B) A desk used in the business and held more than one year.
C) An investment in Orange Company common stock.
D) A computer used in the business, held more than one year, but fully depreciated under § 179 when acquired.
E) B and d.
Correct Answer:
Verified
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