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USCPA精选习题66：Regulation
千万不要让本来努力就可以得到的东西，因为怠慢而失去了机会，USCPA的学习亦是如此，每天坚持做一道习题，2019年USCPA一定会成功上岸！正保会计网校为大家整理了USCPA精选习题66：Regulation，希望大家利用好这些内容。
Capital assets include:
a.A corporation's accounts receivable from the sale of its inventory.
b.A corporate real estate developer's unimproved land that is to be subdivided to build homes, which will be sold to customers.
c.A manufacturing company's investment in U.S. Treasury bonds.
d.Seven-year MACRS property used in a corporation's trade or business.
【正确答案】C
【答案解析】
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 "d" is incorrect. Depreciable property used in a trade or business is excluded from the statutory definition of capital assets.
Choice "b" 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.
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