Which of the following is a Section 1231 asset?
A)Business inventory
B)Business accounts receivable
C)Supplies used in a business
D)None of the above is a Section 1231 asset

Question

Quizplus · Accepted Answer

Section 1231 assets are typically depreciable property used in a trade or business and held for more than one year, such as buildings or machinery. Inventory, accounts receivable, and supplies do not qualify.

Which of the Following Is a Section 1231 Asset