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NEW QUESTION: 1

A. Option A
B. Option C
C. Option D
D. Option B
Answer: A,C

NEW QUESTION: 2
Which data center FortiGate model has 100G ports?
A. FortiGate 500D
B. FortiGate 3700D
C. FortiGate 3810D
D. FortiGate 1500D
Answer: C

NEW QUESTION: 3
Capital assets include:
A. A manufacturing company's investment in U.S. Treasury bonds.
B. Seven-year MACRS property used in a corporation's trade or business.
C. A corporate real estate developer's unimproved land that is to be subdivided to build homes, which will be sold to customers.
D. A corporation's accounts receivable from the sale of its inventory.
Answer: A
Explanation:
Explanation
Choice "c" is correct. Investment assets of a taxpayer that are not inventory are capital assets. The manufacturing company would have capital assets including an investment in U.S. Treasury bonds.
Choice "a" is incorrect. Accounts receivable generated from the sale of inventory are excluded from the statutory definition of capital assets.
Choice "b" is incorrect. Depreciable property used in a trade or business is excluded from the statutory definition of capital assets.
Choice "d" is incorrect. Land is usually a capital asset, but when it is effectively inventory, as when it is used by a developer to be subdivided, it is excluded from the statutory definition of capital assets.