2. Which of the following statements about asset types and character of income is true?...
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Accounting
2. Which of the following statements about asset types and character of income is true?
A. inventory, accounts receivable, and equipment are examples of capital assets.
B. Corporations and individuals may be taxed at preferential rates on net long-term capital gains.
C. The same asset may be an ordinary asset for one taxpayer and a capital asset for another taxpayer.
D.Capital assets are those that are typically found in a the property, plant, and equipment section of a Balance Sheet.
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