For purposes of Sec. 751, inventory includes all of the following except

A. items held for sale in the ordinary course of business.
B. accounts receivable.
C. capital assets or 1231 property.
D. All of the above are inventory per Sec. 751.


Answer: C

Business

You might also like to view...

To appoint a proxy, the Model Business Corporation Act (MBCA) requires:

A. the board of directors to acknowledge the proxy. B. a vote of approval from other shareholders. C. a court order. D. a written document.

Business

Give an example of developing a positive habit using and labeling the three parts of developing a habit.

What will be an ideal response?

Business

Review the project sign-off documents contained in Appendix 14.1. How can these forms be improved?

What will be an ideal response?

Business

Evaluate the results to determine if the desired objectives were achieved in the established timeframe. This statement applies to which of the following steps involved in a systematic decision-making process?

a. Define the problem or challenge as clearly and concisely as possible. b. Determine the best decision-making tool to use. c. Evaluate each alternative solution. d. Monitor the results.

Business