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Which of the Following Definitions of Sec

Question 19

Multiple Choice

Which of the following definitions of Sec. 338 property classes is not correct?


A) Class I: cash, demand deposits, and similar accounts in banks, savings and loan associations, etc.
B) Class II: actively traded personal property such as publicly traded securities
C) Class III: covenants not to compete, similar restrictions on trade, etc.
D) Class IV: inventory or other property held primarily for sale to customers

Correct Answer:

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