Which of the following assets held by a retail business is a § 1231 asset?
A)Inventory.
B)A machine used in the business and held less than one year.
C)A factory building used in the business and held more than one year.
D)Accounts receivable.
E)All of the above.

Question

Quizplus · Accepted Answer

A factory building used in the business and held more than one year is considered a § 1231 asset. Inventory is not considered a § 1231 asset, nor are short-term assets like a machine held less than one year, or accounts receivable.

Which of the Following Assets Held by a Retail Business